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INBM 207 International Careers and Culture Summer 2024 Instructor: Final Exam 100 marks Time: 2 hours Student Name: Student ID: 1. Explain the term “melting pot”. (5 marks) 2. What is the meaning of “ethnocentrism”? (5 marks) 3. List any 5 communication barriers. (5 marks) 4. Describe Capitalism, Socialism, and Communism. Talk about the features of each system, countries that currently follow that system, and provide some comparisons between each of the three systems. (...

How are revenues related to current assets? Revenues are related to current assets through the sales process. When inventory is sold, the sale is recorded on account and inventory is reduced. Debit: Accounts Receivable XXX Credit: Sales XXX Debit: Cost of Sales XXX Credit: Inventory XXX The dollar amount of sales minus cost of sales will create gross profit. Assets will increase by the same amount as gross profit. 2 FC.uations.FC002_1709 In regards to exchange rates, what's th...

What is the Breakeven Point in C-V-P analysis? Breakeven is defined as the level of sales and activity volume at which revenues exactly offset total costs, both fixed and variable. 2 FC..FC006_1709 What is the “key activity” for an organization determining its C-V-P analysis? The key activity is what primarily drives costs and revenues and can be defined as almost anything for any organization (items sold for a retail store, feet drilled for an oil driller, billable hours for a la...

Describe the probability risk assessment technique, Expected Loss. Probabilities are assigned to a loss outcome and the weighted-average probability of the amount of loss is Expected Loss. 2 FC..FC003_1709 Regarding risk mitigation, how can a firm reduce (mitigate) the risk? The firm can engage in actions that will reduce the risk associated with a particular action. 3 FC..FC002_1709 What is the inherent problem with estimating the likelihood of an outcome? The estimation process ...

What is the connection between time and interest rates when considering amounts of money? Using an interest rate makes one amount of money equal to a different amount of money at a different point in time. 2 FC..FC002_1709 How can discount rates be used to represent inherent risk on one capital investment versus another in capital budgeting? Use a higher discount rate for the investment with higher inherent risk. 3 FC.unt.FC001_1709 What does Payback method tell us? Payback method...

CMA Exam Review - Part 2 1 FC..FC006_1709 What is disbursement float? Disbursement float is a measure of the time between when a firm initiates payment and when the funds are deducted from the firm's bank account. 2 FC..FC005_1709 What is expected rate of inflation? The belief about whether prices will be increasing in the future and by how much. 3 FC..FC001_1709 Why do financial markets exist? Financial markets exist to facilitate the flow of money from investors (those looking...

U.S. CITIZENSHIP TEST QUESTIONS AND ANSWERS American Government A: Principles of American Democracy 1. What is the supreme law of the land? Correct answer: The Constitution Explanation: The Constitution is the highest law in the United States. It is the oldest written Constitution in the world. 2. What does the Constitution do? Correct answers (choose one): • sets up the government • defines the government • protects basic rights of Americans 3. The idea of self-government is in...

U2 D.1. Measurement Concepts: Part 1, and D.3. Overhead Costs: Part 1 Question Define relevant range. Answer The relevant range is the range of volume for which the assumptions of the cost driver (i. e., linear relationship with the costs incurred) are valid and in which the actual value of the cost driver exists. U2 D.1. Measurement Concepts: Part 1, and D.3. Overhead Costs: Part 1 Question Explain the difference between the contribution approach and the absorption approach. Answe...

U4 C.1. Cost and Variance Measures: Part 1 Question What is the formula for sales volume variance? Answer U4 C.1. Cost and Variance Measures: Part 1 Question What is the formula for sales price variance? Answer U4 Page 2 of 10 FC-00353 CSO: 1C1e LOS: 1C1k #4 FC-00352 CSO: 1C1e LOS: 1C1k #3 1. 2. 1. 2. U4 C.1. Cost and Variance Measures: Part 2 Question Identify the direct materials variances (two-way variance analysis). Answer Direct materials price variance = (AP − SP)...

Question What are the five principles associated with the control environment component of the Committee of Sponsoring Organizations' (COSO) Internal Control Integrated Framework? Answer Commitment to ethics and integrity Board independence and oversight Organizational structure Commitment to competence Accountability