UPDATED ETS MAJOR FIELD TEST IN BUSINESS PRACTICE 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED
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ETS MAJOR FIELD BUSINESS
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ETS MAJOR FIELD BUSINESS
ETS MAJOR FIELD TEST IN BUSINESS PRACTICE
2024 QUESTIONS WITH CORRECT ANSWERS
ALREADY PASSED AND VERIFIED
In marketing research, a firm might consider using secondary data over primary data
because
a) secondary data usually cost less
b) secondary data are usually more accurate
c) primary d...
ETS MAJOR FIELD TEST IN BUSINESS PRACTICE
2024 QUESTIONS WITH CORRECT ANSWERS
ALREADY PASSED AND VERIFIED
In marketing research, a firm might consider using secondary data over primary data
because
a) secondary data usually cost less
b) secondary data are usually more accurate
c) primary data are usually non specific
d) primary data are likely to be outdated - CORRECT ANSWER a) secondary data
usually cost less
In organizational decision making, managers are able to exercise the greatest degree of
discretion in the
a) enforcement of internal policies
b) settlement of legal disputes
c) restructuring of outstanding loans
d) compliance with federal regulations - CORRECT ANSWER a) enforcement of
internal policies
The term "net working capital" refers to
(A) inventories, receivables, and current notes and investments
(B) assets divided by liabilities
,ETS MAJOR FIELD TEST IN BUSINESS PRACTICE
2024 QUESTIONS WITH CORRECT ANSWERS
ALREADY PASSED AND VERIFIED
(C) current assets less short-term liabilities
(D) net assets left over after subtracting cost of goods sold - CORRECT ANSWER
(C) current assets less short-term liabilities
Dreamland Pillow Company sells the "Old Softy" model for $20 each. One pillow
requires two pounds of raw material and one hour of direct labor to manufacture.
Raw material costs $3 per pound and direct production labor is paid $4 per hour. Fixed
supervisory costs are $2,000 per month and Dreamland rents its factory on a five-year
lease for $4,000 per month. All costs are considered costs of production.
How many pillows must Dreamland produce and sell each month to earn a monthly gross
profit of $1,000?
(A) 300
(B) 350
(C) 600
(D) 700 - CORRECT ANSWER (D) 700
VC = (2 lbs*$3)+$4 = $10
,ETS MAJOR FIELD TEST IN BUSINESS PRACTICE
2024 QUESTIONS WITH CORRECT ANSWERS
ALREADY PASSED AND VERIFIED
FC = $2,000+$4,000 = $6,000
CM per unit = $20-(VC) $10=$10
$1,000 = (units sold*$10)-$6,000
Units sold = ($1,000+$6,000)/$10 = 700 pillows
Dreamland Pillow Company sells the "Old Softy" model for $20 each. One pillow
requires two pounds of raw material and one hour of direct labor to manufacture.
Raw material costs $3 per pound and direct production labor is paid $4 per hour. Fixed
supervisory costs are $2,000 per month and Dreamland rents its factory on a five-year
lease for $4,000 per month. All costs are considered costs of production.
Another firm has offered to produce "Old Softy" pillows and sell them to Dreamland for
$12 each. Dreamland cannot avoid the factory lease payments, but can avoid all labor
costs if it does not produce these pillows. Under these conditions, how many "Old Softy"
pillows must Dreamland sell to earn monthly gross profits of $1,000?
(A) 417
(B) 500
(C) 625
(D) 875 - CORRECT ANSWER (C) 625
, ETS MAJOR FIELD TEST IN BUSINESS PRACTICE
2024 QUESTIONS WITH CORRECT ANSWERS
ALREADY PASSED AND VERIFIED
Dreamland VC per unit = $12
FC = $4,000
CM per unit = $20-(VC) $12=$8
(GP) $1,000 = (units sold*$8)-$4,000
Units sold = ($1,000+$4,000)/$8 = 625 pillows
Which of the following statements about a systems flowchart is true?
(A) It is used in systems design to define and describe each piece of data.
(B) It is a method of writing programs using only three basic constructs: sequence,
selection, and repetition.
(C) It documents the sequence of processing steps that take place in an information
system.
(D) It documents the logical design of an information system. - CORRECT ANSWER
(D) It documents the logical design of an information system.
Which of the following statements about the tort of negligence is true?
(A) It cannot be used as a basis for liability for defective products.
(B) It is a strict liability tort with no defenses.
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