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Latest [Feb 06, 2022] 100% Passing Guarantee - Brilliant CORe Exam Questions PDF
NEW QUESTION 97
What transaction is presented in the above journal entry?
- A. Amortization of prepaid rent
- B. Accrual for rent outstanding
- C. Payment of rent in advance
- D. Rent paid in installments
Answer: A
NEW QUESTION 98
A hurricane has recently destroyed a major oil supplier's oil rig located in the Gulf of Mexico. If price elasticity of demand for oil is 0, what effect would the hurricane have on the short-term market for oil?
- A. New producers would enter the market to provide the oil that was lost.
- B. The oil producer would be willing to supply less oil at any price.
- C. Consumers would reduce their oil consumption.
- D. Other oil producers would decrease their prices.
Answer: B
NEW QUESTION 99
A company collected $10,000 from a customer in payment for goods sold to the customer a month ago on credit. How would the collection impact the accounting equation?
- A. Increase assets and increase liabilities
- B. Increase assets and decrease assets
- C. Increase assets and increase owner's equity
- D. Increase assets and decrease liabilitiies
Answer: B
NEW QUESTION 100
Which of the following financial statements is MOST useful in determining the capital expenditures of a company during the past year?
- A. The statement of retained earnings, using the profits that were reinvested in the company
- B. The income statement, using the depreciation expense per year
- C. The balance sheet, using the ending balance of property, plant, and equipment
- D. The statement of cash flows, using the investing section
Answer: D
NEW QUESTION 101
A professor asks a class of 100 students to spend the weekend sampling the heights of adults. After each student samples 30 adults, the student is then asked to calculate the mean of his or her sample. As the professor collects the individual sample results from each student, which of the options below is the MOST likely to be observed?
- A. As more samples are collected, the sample means will converge to the true population mean.
- B. As more samples are collected, the average of the sample means increases but will not converge to the true population mean.
- C. As more samples are collected, the sample means may vary but the average of the sample means will converge to the true population mean.
- D. As more samples are collected, the average of the sample means decreases but will not converge to the true population mean.
Answer: C
NEW QUESTION 102
During a prolonged recession, a hotel chain sees reservations at one of its locations decline by five percent. The chain soon decides to close that location. Why would a small change in capacity utilization have this effect?
- A. Closing the location will allow the hotel chain to recover some of its sunk costs.
- B. The consumers most affected by the recession are generally those with lower willingness to pay.
- C. Fixed costs are too high for the hotel to remain profitable at this decreased quantity.
- D. Demand for hotel rooms in this location is extremely elastic.
Answer: C
NEW QUESTION 103
Which of the following options is an example of revenue?
- A. An order for $3,000 received from a customer
- B. $300 received from a customer when they purchased and received an item
- C. $10,000 received from a customer for goods purchased a month ago
- D. $20,000 received as a down payment from a customer when they placed their order
Answer: B
NEW QUESTION 104
An apparel company is negotiating a new contract with one of its fabric suppliers. Under which of the following conditions will the apparel company have power to bargain for a lower price in the negotiations?
- A. If the apparel company's employees would need training to use a new supplier's materials
- B. If the apparel industry is growing quickly
- C. If quality of its fabric is important to the apparel company
- D. If the supplier has several competitors and only a few customers
Answer: D
NEW QUESTION 105
An individual surveys 15 people under the age of 40 and asks for their current salary. The resulting histogram is shown below.
How many of those surveyed earn less than or equal to $50,000 a year?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION 106
Although they may vary, cash flows from financing activities in a mature company are usually:
- A. positive, because companies may require funds to maintain research and development (R&D) activities
- B. positive, because there is no need to fund growth
- C. negative, because companies maybe paying their main suppliers
- D. negative, because companies may receive enough funds fromoperations to cover investments
Answer: D
NEW QUESTION 107
Which of the following businesses is LEAST likely to locate its stores close to its competitors' stores?
- A. A car dealership which sells a different brand of car than its nearby competitors
- B. A home goods store which frequently offers sales
- C. A boutique clothing store which sells expensive but high-quality apparel
- D. An ice cream chain which has built strong customer loyalty due to its distinctive flavors
Answer: B
NEW QUESTION 108
A grocery store has recently begun selling a new brand of milk for the same price as the brand of milk it already carries. After a few weeks, the grocery store finds that no one is buying the original brand of milk anymore. Which of the following scenarios could explain this situation?
- A. The cost of producing the new milk brand is lower.
- B. The willingness to pay for the new milk brand is higher.
- C. The cross-price elasticity of demand for the new and old milk brands is negative.
- D. There are network effects in milk consumption.
Answer: B
NEW QUESTION 109
A company is considering a project to develop a nascent technology to harness energy from ocean waves but wants to determine its economic viability. This 10-year project will cost the company $10 million in research and development costs and $25 million to build infrastructure. Each megawatt of energy costs $60 to produce, but the government offers a subsidy of $5 permegawatt. The price per megawatt of energy will be $56 for the next five years, and the company expects to produce 1 million megawatts per year. Ignoring the time value of money (i.e. assuming cash flows across different years are directly comparable), if costs, output, and subsidies remain constant, what will the market price of a megawatt of energy need to be in years six through ten to make this project economically viable?
- A. $71
- B. $61
- C. $59
- D. $56
Answer: B
NEW QUESTION 110
The standard deviation of a given population is 3.5 with a mean of 26. Assuming the population follows a normal distribution, approximately what percentage of the population will fall between 15.5 and 36.5?
- A. 99.7%
- B. 95.0%
- C. 99.9%
- D. 68.0%
Answer: A
NEW QUESTION 111
Which of the following options is an example of an expense?
- A. Purchase of a new vehicle for $30,000 by a delivery company
- B. Payment of $6,000 for vehicle insurance covering the next year
- C. Consumption of $500 of electricity for the head office building
- D. Purchase of $10,000 of fabric to be used by a clothing manufacturer
Answer: C
NEW QUESTION 112
Company A is projecting a 10 percent increase in revenue for the next quarter with no significant changes to their operations. Which of the following accounting elements is the LEAST likely to mirror that increase?
- A. Capital expenditures
- B. Accounts receivable
- C. Cost of goods sold
- D. Inventory
Answer: A
NEW QUESTION 113
Company A owns properties that it leases for use as plant and office space. Company A received $120,000 on June 25 from Company B as a lease payment for use of a building for six months beginning July 1. What entry would Company A make on July 31?
- A. Debit cash for $120,000 and credit deferred revenue for $120,000
- B. Debit rent revenue for $20,000 and credit deferred revenue $20,000
- C. Debit deferred revenue for $20,000 and credit rent revenue for $20,000
- D. Debit prepaid rent $100,000 and credit accrued rent $100,000
Answer: C
NEW QUESTION 114
Which of the following figures does an analyst need to calculate from the income statement in order to calculate free cash flows?
- A. Gross profit
- B. Net revenue
- C. Capital expenditures
- D. Earnings before interest and taxes
Answer: D
NEW QUESTION 115
An individual interviews 15 people under the age of 40 and asks each for their age and salary. The resulting scatter plot is shown below.
Based on this graph, the correlation between age and salary appears to be approximately:
- A. 0.3
- B. -0.7
- C. 0.7
- D. -0.3
Answer: C
NEW QUESTION 116
The assets of Company A at the end of their fiscal year are shown on the following common-size table.
Company A is MOST likely to be which of the following types of business?
- A. Commercial bank
- B. Brewery
- C. Law firm
- D. Car dealership
Answer: B
NEW QUESTION 117
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What is the duration, language, and format of the HBX CORe Exam
Number of Questions: 60
Length of Examination: 120 minutes
Language: English
Passing score: 70%
Type of Questions: Single and Multiple Choice.
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