What’s the relationship between the design of a manufacturing process and the firm’s strategic competitive dimensions ?

The production of forages in the United States equals $\rule{1cm}{1pt}$ percent of the land used for crops.
a. $25$
b. $35$
c. $50$\ d. $65$

An old manuscript reveals that a landowner in the time of King Arthur held 3.00 acres of plowed land plus a livestock area of 25.0 perches by 4.00 perches. What was the total area in the more modern unit of square meters? Here, 1 acre is an area of 40 perches by 4 perches, 1 rood is an area of 40 perches by 1 perch, and 1 perch is the length $16.5 \mathrm{ft}$.

Mary Wade owns a small business that rents parking spaces to students at the local university. Mary’s typical rental contract requires the student to pay the year’s rent of $720 ($60 per month) in advance. When Mary prepares financial statements at the end of December, her accountant requires that Mary spread the $720 over the 12 months that a parking space is rented. Therefore, Mary can recognize only$240 revenue (4 months) from each contract in the year the cash is collected and must defer recognition of the remaining $480 (8 months) to next year. Mary argues that getting students to agree to rent the parking space is the most difficult part of the activity so she ought to be able to recognize all$720 as revenue when the cash is received from a student.

Required:

Explain why generally accepted accounting principles require the use of accrual accounting rather than cash-basis accounting for transactions like the one described here.

Identify the opinion contained in the statement below. If the statement contains no opinions, write none.

Example: Daw Aung San Suu Kyi is the daughter of General Aung San, the wildly popular founder of modern Burma, or Myanmar.

Answer: wildly popular

After receiving a university education in Britain, Suu Kyi returned to Burma in $1988$ where she became a courageous foe of the military regime.

In the following paragraph, cross out each Incorrect verb form and write the correct form above it. If all the verbs in a sentence are correct, write C above the sentence.

Example: Railroads in the United States $\overset{\text{began}}{\cancel{\text{begun}}}$ with a few horse-powered lines, in the 1800s.

By the end of the nineteenth century, the United States have five transcontinental lines.

Design an experiment to find out the effect of water temperature on frog egg development.

The below statement corresponds to a numbered sentence in the passage. It contains a blank and is followed by four answer choices. Decide which choice fits best in the blank. The word or phrase that you choose must express roughly the same meaning as the italicized word in the passage. Write the letter of your choice on the answer line.

The $\underline{?}$ standards of modern works can be difficult to understand. ______________ (aesthetic)

a. high b. declining c. artistic d. commercial

Insert a colon where necessary. If the sentence is correct, write C in the blank.
______The most popular sports in the United States are football, basketball, and baseball.

Listed below are nine technical accounting terms:

$$\begin{array}{lll}\text { Variable costs } & \text { Relevant range } & \text { Contribution margin } \\ \text { Break-even point } & \text { Fixed costs } & \text { Semivariable costs } \\ \text { Economies of scale } & \text { Sales mix } & \text { Unit contribution margin }\end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.

g. Costs that respond to changes in sales volume by less than a proportionate amount.

An energy production company has the following information regarding the acquisition of new gas-turbine equipment. Purchase price = $780,000. Trans-oceanic shipping and delivery cost =$4300. Installation cost (1 technician at $1600 per day for 4 days) =$6400. Tax recovery period = 15 years. Book depreciation recovery period = 10 years. Salvage value = 10% of purchase price. Operating cost (with technician) = $185,000 per year. The manager of the department asked your friend in Accounting to enter the appropriate data into the tax-accounting program. What are the values of B, n, and S in depreciating the asset for tax purposes that he should enter?

The area of the United States is about 6,000,000 square miles. The area of Hawaii is about 11,000 square miles. Use an indirect proof to show that at least one of the fifty states has an area greater than 120,000 square miles.

You design an experiment to test the effectiveness of a vaccine against a strain of influenza. In the experiment, 100,000 people receive the vaccine and another 100,000 people receive a placebo. Identify a potential problem with the experimental design. Then describe how you can improve it.

In many of the world’s poorest countries, nearly 50 percent of the population is under 15 years of age. If these people are to help improve the productivity of their economies, they must be trained in modern methods of production. In 2000, just over 4 million of the 8.8 million people of Chad were under 15. Explain why it would be difficult for many of these children to be educated and become productive members of a growing economy.