ETS Major Field Test Questions and Answers (All are Correct) Updated
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ETS Major Field
Institution
ETS Major Field
ETS Major Field Test Questions and Answers (All are Correct) Updated
Which of the following should be reported net of tax on a corporation's income statement?
(A) Discontinued operations
(B) Operating income
(C) Gross profit
(D) Gain on sale of delivery truck - Answer (A) Discontinued operat...
ETS Major Field Test Questions
and Answers (All are Correct)
Updated
Which of the following should be reported net of tax on a corporation's income
statement?
(A) Discontinued operations
(B) Operating income
(C) Gross profit
(D) Gain on sale of delivery truck - Answer ✔ (A) Discontinued operations
If a multinational company cannot change the level of political risk in foreign markets,
which of the following tactics would most likely offset possible losses?
(A) Maintain control of distribution
(B) Use currency futures contracts
(C) Finance debt locally
(D) Maintain control of key inputs - Answer ✔ (C) Finance debt locally
Blessed Bundles is a regional clicks-and-mortar retail chain that sells maternity and
baby products. It uses data from past purchases to study customers' product
preferences, and it uses server tracking logs to study customers' online shopping
behavior. Which of the following correctly describes the two types of market research
data the company is using?
Past Purchases - Server Tracking Logs
(A) Transactional - Clickstream
(B) Clickstream - Transactional
(C) Private - Public
(D) Public - Private - Answer ✔ (A) Transactional - Clickstream
Fjord Furniture has been manufacturing furniture in the United States for two decades.
Based in Ohio, Fjord produces standard, noncustomized furniturefor median price-range
consumers. The furniture is produced through manual labor, and Fjord's primary
advantage is the low cost of materials that are available close to the production
facilities. The recent introduction of high-technology equipment such as laser-robotic
lathes offers Fjord the opportunity for Fjord to reduce its reliance on manual labor and
increase the use of automated systems. Adopting this technology will also allow the
production facilities to operate around-the-clock. Profit margins are likely to decline after
five years as competitors adopt the new technology.
, Fjord is located in a region whose economy has been plagued by corporate
consolidations and changes in manufacturing processes. Strong labor unions dominate
the region, even though labor uni - Answer ✔ Questions 22-28 based on this scenario
If Fjord successfully implements the new technology, the move will most likely result in
(A) a decrease in total and variable cost and an
increase in fixed cost
(B) a decrease in total cost, an increase in
variable cost, and a decrease in fixed cost
(C) an increase in revenue and a decrease in
variable cost and fixed costs.
(D) an increase in revenue, a decrease in variable - Answer ✔ (A) a decrease in total
and variable cost and an
increase in fixed cost
Biggie Mart is a national chain of hypermarkets that carries a narrow line of inexpensive,
standard furniture items. Biggie Mart offers to carry some of Fjord's furniture products if
Fjord will provide several other products at reduced prices that will be sold under Biggie
Mart's Home with Biggie brand name. Home with Biggie is which
of the following kinds of brands?
(A) Parent
(B) Private
(C) Flanker
(D) Corporate - Answer ✔ (B) Private
If Fjord's management installs new production technology, almost half the current
workforce could be transferred to the production of high- quality, handcrafted wood
furniture, a new line for the firm. Further, the marketing manager has identified a
potential retailer for the line. Home Heritage sells only handcrafted wood furniture
through its chain of small, locally franchised stores. Which of the following best
describes Home Heritage?
(A) Specialty store
(B) Category killer
(C) Mass merchandiser
(D) Nontraditional retailer - Answer ✔ (A) Specialty store
A state government office wants a special order of furniture. Fjord is not currently
operating at full capacity, but accepting the special order would require a reduction in
production for regular customers. The state order is 10 percent less than Fjord normally
charges. Fjord should produce furniture for the state and reduce other production if
(A) the gross margin on the reduced amount of routine production is less than the gross
margin on the state order
(B) the profit margin on the reduced amount of routine production is less than the profit
margin on the state order
(C) the total revenue for the reduced amount of routine production is less than the total
revenue on the state order
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