The U.S. demand for British pounds is

A) downsloping because a higher dollar price of pounds means British goods are cheaper to Americans.
B) downsloping because a lower dollar price of pounds means British goods are more expensive to Americans.
C) upsloping because a lower dollar price of pounds means British goods are cheaper to Americans.
D) downsloping because a lower dollar price of pounds means British goods are cheaper to Americans.

Define incentive pay and explain how it can motivate employees.

Below are the 2011 and 2012 year-end balance sheets for Wolken Enterprises:​​​ $\begin{array}{lrr}\text{ Assets: }& 2012& 2011\\ \text{ Cash }& \$200,000& \$170,000\\ \text{ Accounts receivable }& 864,000& 700,000\\ \text{ Inventories }& 2,000,000& 1,400,000\\ \text{ Total current assets }& \$3,064,000& \$2,270,000\\ \text{ Net fixed assets }& 6,000,000& 5,600,000\\ \text{ Total assets }& \$9,064,000& \$7,870,000\end{array}$

$\begin{array}{rrcc}\text{ Liabilities and equity: }& & & \\ \text{ Accounts payable }& & \$1,400,000& \$1,090,000\\ \text{ Notes payable }& & 1,600,000& 1,800,000\\ \text{ Total current liabilities }& \underline{\$3,000,000}& & \underline{\$2,890,000}\\ \text{Long-term debt}& & 2,400,000& 2,400,000\\ \text{ Common stock }& & 3,000,000& 2,000,000\\ \text{Retained earnings }& & \underline{664,000}& 580,000\\ \text{Total common equity}& & \$3,664,000& \$2,580,000\\ \text{ Total liabilities and equity }& \underline{\$9,064,000}& & \$7,870,000\end{array}$ ​Wolken has never paid a dividend on its common share,and it issued $2,400,000 of 10-year non-callable,long-term debt in 2011.As of the end of 2012,none of the principal on this debt had been repaid.Assume that the company's sales in 2011 and 2012 were the same.Which of the following statements must be correct?

A) Wolken increased its short-term bank debt in 2012.
B) Wolken issued long-term debt in 2012.
C) Wolken issued new common shares in 2012.
D) Wolken repurchased some common shares in 2012.

Scheduling materials to arrive on a timely basis at a workstation or facility in order to reduce costs and improve workflow is known as:

A) management by objectives (MBO) .
B) timely inventory control (TIC) .
C) efficient production planning (EPP) .
D) just-in-time (JIT) scheduling.
E) economic order quantity (EOQ) .

On a production possibility frontier,opportunity cost is:

A) the decrease in the output of one good when the output of the other good is increased.
B) the rate at which people are willing to exchange goods as determined by demand and supply.
C) the dollar cost of the good given up to get another good.
D) independent of the slope of the curve.

Salman performs professional services similar to those of a management accountant while working for the city of Portland.Salman can best be described as a

A) public accountant.
B) cost accountant.
C) tax accountant.
D) government accountant.

Rapidly rising U.S. health care costs have

A) forced the growth of wages to keep pace.
B) encouraged outsourcing.
C) caused some employers to use more part-time and temporary workers.
D) done all of these.

Michelle receives $210000 and Stephanie receives $140000 in a split of $350000 net income. Which expression does not reflect the income splitting arrangement?

A) 3:2
B) 3/5 & 2/5
C) 6:4
D) 2:1