Academic Foundations and Systems Sample Questions

Front

Which of the following sentences is grammatically correct?
The injured accident victim was laying on the road until the ambulance arrived.
We arrived their at 3 PM to begin the meeting.
The manager busted into the wrong office by mistake.
Ann missed the meeting because she was lying in bed with the flu.

Back

Ann missed the meeting because she was lying in bed with the flu.

Answer explanation

"Ann missed the meeting because she was lying in bed with the flu." is correct because this sentence uses the correct form of the verb “lying.” Lying is a form of the verb “lie,” which means reclining. The commonly used “laying” should be used when referring to placing something, such as chickens laying eggs.

"The injured accident victim was laying on the road until the ambulance arrived." is incorrect because the verb “laying” is used instead of the correct form “lying.”

"We arrived their at 3 PM to begin the meeting." is incorrect because a possessive pronoun, “their,” is used instead of the adverb “there,” which refers to location.

"The manager busted into the wrong office by mistake." is incorrect because the nonstandard verb “busted” is used instead of “burst” to describe someone making a dramatic entry, or bursting, into a room.

Front

If a worker's gross pay is $750.00 and 1.25 percent of the workers' earnings are withheld for Medicare tax, what dollar amount of Medicare tax is being withheld?

Back

$9.38

Answer explanation

"$9.38" is correct because $9.38 is withheld. To calculate, multiply the percent being withheld (0.0125) by the gross pay ($750.00).

"$7.35," "$93.75," and "$125.50" are incorrect because $7.35, $93.75, and $125.50 are not the correct amount being withheld.

Front

According to the law of supply and demand, when high winds in Hawaii damage the coffee plants, coffee will be

Back

in short supply, and therefore higher in price

Answer explanation

"in short supply, and therefore higher in price" is correct because according to the law of supply and demand, since the coffee will now be in short supply, it will sell at a higher price.

"low in price because people will switch to tea to avoid price increases," "unaffected in price or supply," and "in short supply with an unchanged price" are incorrect according to the law of supply and demand.

Front

A country exported $689,269 worth of goods and imported $3,465,029 worth of goods. What is the trade surplus or deficit?

Back

-$2,775,760

Answer explanation

"-$2,775,760" is correct because the country would have a trade deficit of $2,775,760. To calculate, subtract the imported amount from the exported amount. In this case we receive a negative figure (-$2,755,760), making it a trade deficit.

"-$986,637" is incorrect because -$986,637 is not the correct amount.

"$2,775,760" is incorrect because while $2,775,760 is the correct amount it should be negative because it is a trade deficit.

"$4,154,298" is incorrect because $4,154,298 is not the correct amount.

Front

How successful was the business venture after hiring a telemarketing firm that logged 3,496 hours, made 46,397 presentations, and 6,350 sales, increasing revenues by $295,300?

Back

a good investment with a profit of over $137,000

Answer explanation

"a good investment with a profit of over $137,000" is correct because the business venture was a good investment with a profit of over $137,000. To calculate, multiply the number of hours (3,496) by the amount per hour ($45) to arrive at how much the firm cost. Then subtract that figure ($157,320) from that company's revenues ($295,300).

"wildly successful, netting over $200,000" is incorrect because the business venture was not a wildly successfully and did not net over $200,000.

"a good start, doing slightly better than $6,000" is incorrect because the business venture did significantly better than $6,000.

"a bad venture with a negative return of -$245,000" is incorrect because the business venture did not provide a negative return.

Front

Which of the following acts regulates the federal minimum wage for interstate commerce? Fair Labor Standards Act, National Labor Relations Act, Revenue Act, Equal Pay Act

Back

Fair Labor Standards Act

Answer explanation

"Fair Labor Standards Act" is correct because the act that regulates the federal minimum wage for interstate commerce is the Fair Labor Standards Act.

"National Labor Relations Act" is incorrect because the National Labor Relations Act (also known as the Wagner Act) governs such things as the right of workers in the private sector to form labor unions, and engage in collective bargaining.

"Revenue Act" is incorrect because the Revenue Act increased individual income taxes and increased corporate tax rates.

"Equal Pay Act" is incorrect because the Equal Pay Act was aimed at abolishing wage differentials based on gender.

Front

A company's total revenue is $1,000,000 and the cost of goods sold is $600,000. What is the gross profit?

Back

$400,000

Answer explanation

The gross profit is calculated by subtracting the cost of goods sold from the total revenue. In this case, the gross profit is $400,000, which is the correct choice.

Front

If a company's net income is $200,000 and it has 100,000 shares outstanding, what is the earnings per share?

Back

$2

Answer explanation

Earnings per share is calculated by dividing net income by the number of shares outstanding. In this case, $200,000 divided by 100,000 shares gives an earnings per share of $2. Therefore, the correct answer is $2.

Front

Which of the following sentences is grammatically correct?
Options:
She don't like spinach.
He don't care about the consequences.
They doesn't want to go to the party.
I don't want to go to the party.

Back

I don't want to go to the party.

Answer explanation

The correct sentence is 'I don't want to go to the party.' It is grammatically correct because it uses the correct subject-verb agreement.

Front

Which of the following acts prohibits discrimination based on race, color, religion, sex, or national origin? Civil Rights Act, Fair Labor Standards Act, National Labor Relations Act, Equal Pay Act

Back

Civil Rights Act

Answer explanation

The Civil Rights Act prohibits discrimination based on race, color, religion, sex, or national origin, making it the correct choice among the options provided.