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## Test Bank Math For Business And Finance, 2nd Edition By Jeffrey Slater A+

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Test Bank Math For Business And Finance, 2nd Edition By Jeffrey Slater A+

1. The problem should be stated in the decision-making process.
True False

2. Commas separate every three digits from left to right.
True False

3. Place value of the hundreds position is to the right of the tens position.
True False

4. 5,986 in verbal is written as five thousand and nine hundred eighty-six.
True False

True False

6. Rounding all the way means there are two nonzero digits left.
True False

7. The first step in rounding is to identify the place value of the digit to be rounded.
True False

8. Rounding up occurs if the digit to the right of the identified digit is 5 or less.
True False

9. 42,515 rounded to the nearest thousand is 43,000.
True False

10. 586 rounded to the nearest ten is 580.
True False

11. 258 rounded all the way is 300.
True False

12. Numbers added together are called sums.
True False

13. The total of addends is called the sum.
True False

14. Adding is always done from bottom to top.
True False

15. The opposite of addition is subtraction.
True False

16. Borrowing in subtraction results in changing positional notation.
True False

17. In subtraction the minuend is the smaller number.
True False

18. 512 minus 285 equals a subtrahend of 227.
True False

19. Multiplication is a shortcut to addition.
True False

20. The multiplicand times the product equals the multiplier.
True False

21. Zeros at end of the multiplier and/or multiplicand are never attached to the product.
True False

22. 55 ´ 100 means attaching two zeros to the number being multiplied.
True False

23. Divisor plus quotient + remainder = dividend.
True False

24. Division is the reverse of multiplication.
True False

25. Short division is rarely done when the divisor is one digit.
True False

26. 1.4 + .14 + 20.001 equals 21.451.
True False

27. 5.11 times 6.5 equals 33.215.
True False

28. 275 divided by 1.5 equals 183.33 rounded to the nearest thousandth.
True False

29. 6,690 divided by 10,000 equals .6690.
True False

30. 29.41 minus .008 equals 29.402.
True False

31. 6.33 times 7.41 = 46.9053.
True False

Multiple Choice Questions

32. The decision-making process does not involve:
A. Stating the problem
B. Deciding on the worst method to solve the problem
C. Determining if the solution makes sense
D. Evaluating the end result
E. Deciding on the best method to solve the problem

33. In the number 49,869 there are how many tens?
A. 9
B. 6
C. 8
D. 4
E. 69

34. 9,432 written in verbal is:
A. nine thousand four hundred two
B. nine thousand and four hundred thirty-two
C. nine thousand four hundred twenty-three
D. nine thousand, four hundred thirty-two
E. none of these

35. 37,855 rounded to the nearest thousand is:
A. 40,000
B. 30,000
C. 38,000
D. 37,000
E. None of these

36. 19,810 rounded to the nearest hundred is:
A. 20,000
B. 19,000
C. 19,700
D. 19,800
E. None of these

37. Round all-the-way 2,689:

A. 2,680

B. 3,680

C. 3,000

D. 2,790

E. None of these

38. Adding 1,690 + 88 + 410 + 30 results in a sum of:
A. 2,182
B. 2,818
C. 2,218
D. 2,188
E. None of these

39. Subtracting 766 from 941 results in a difference of:
A. 175
B. 571
C. 185
D. 241
E. None of these

40. 88,000 × 300 equals:
A. 264,000
B. 26,000
C. 26,400,000
D. 26,000,000
E. None of these

41. 97 ´ 100,000 equals:
A. 9,700
B. 97,000
C. 9,700,000
D. 970,000
E. None of these

42. 98,000 divided by 4,000 equals:
A. 420
B. 240
C. 2R2
D. 24R2
E. None of these

43. Janet Woo received the following grades in an accounting class at McClenan Community College: 65, 80, 70, 100, 75, and 90. The instructor said he would drop the lowest grade. What is Janet's average?
A. 81
B. 83
C. 84
D. 82
E. None of these

44. Lee Co. carpeted its offices, requiring 310 square yards of commercial carpet. The total cost of the carpet at Home Depot was \$10,230. How much did Lee pay per square yard?
A. \$33
B. \$34
C. \$340
D. \$32
E. None of these

45. At Best Buy a flat screen television with a regular price of \$1,790 was reduced by \$395. Assuming 800 customers purchased the computer, what were the total sales to Best Buy?
A. \$1,160
B. \$116,000
C. \$1,161,000
D. \$1,116,000
E. None of these

46. At a General Electric Plant they produced 12,000 jet engines in May. General Electric was able to sell 11,000 of those engines. Calculate total ending inventory cost assuming each engine cost \$290,000.
A. \$1,000
B. \$290,000,000
C. \$2,900,000
D. \$920,000,000
E. None of these

47. True Value Hardware buys 200 snow blowers for \$90 each to stock the store for the winter. If True Value sells the 200 snow blowers at \$120 each, what is the profit? (sales – cost)
A. \$60,000
B. \$6,000
C. \$24,000
D. \$18,000
E. None of these

48. On Tuesday, Pizza Hut sold 60 plain pizzas at \$5 each; 20 meatball pizzas at \$8 each; 25 Sicilian pizzas at \$9 each; and 33 large crust supremes at \$10 each. What were the total dollar sales for Pizza Hut on Tuesday?
A. \$790
B. \$1,015
C. \$1,115
D. \$1,511
E. None of these

49. Pete Hax rents a ski house in Vail for \$1,800 per month for six months. Assuming Pete spends \$12,955 for the total trip, how much was spent above the renting of the ski house?
A. \$10,800
B. \$18,100
C. \$2,155
D. \$2,515
E. None of these

50. Sally Ray borrowed \$38,000 to buy a new Chevy Volt. Assuming an interest charge of \$4,100, what will be her monthly payment if she takes 25 months to repay the loan interest. Assume the loan is repaid in equal payments.
A. \$1,520
B. \$1,684
C. \$1,864
D. \$1,250
E. None of these

51. Eric Rose wants to buy a Ford Explorer that costs \$26,000 with an interest charge of \$3,000. If there are 50 equal payments required, what will Eric's monthly payment be?
A. \$580
B. \$850
C. \$520
D. \$250
E. None of these

52. Ed Sloan bought 6,000 shares of stock in Ebay Co. After holding the stock for six months, he sold 500 shares on Monday, 220 shares on Tuesday and again on Thursday, and 900 shares on Friday. If the average share of stock he still has is worth \$70 per share, what is the total value of the stock?
A. \$306,600
B. \$291,200
C. \$219,200
D. \$360,600
E. None of these

53. Round all-the-way 2,689:
A. 2,680
B. 3,680
C. 3,000
D. 2,790
E. None of these

54. 47,000 times 400 equals:

A. 18,800,000

B. 18,000,000

C. 18,000,800

D. 800,000

E. None of these

55. 708,000 divided by 3,000 equals:

A. 236

B. 236 R2

C. 2,360

D. 23,360

E. None of these

56. Ace Landscape buys 100 shovels for \$15 each. Ace sells all 100 shovels at \$29.99. What is his profit?

A. \$1,500

B. \$2,999

C. \$1,499

D. \$1,400

E. None of these

57. Jeff wants to buy a new Ford Fusion for \$24,200, with shipping costs of \$800 and interest cost of \$1,000. If Jeff pays in 72 equal payments, what would Jeff’s monthly payment be?

A. \$361.11

B. \$541.67

C. \$433.33

D. \$400.00

E. None of these

58. A.J. Ryan bought 500 shares of Google at \$364.55 per share. Assuming no commission, what did Ryan spend?
A. \$128,275
B. \$145,820
C. \$154,820
D. \$182,275
E. None of these

59. Pumpkins at a local farm sell for \$.49 per pound. Jim Ring spent \$73.50. How many pounds of pumpkins were purchased?
A. 100
B. 150
C. 510
D. 110
E. None of these

60. North Shore Community College reimburses faculty members \$.298 cents per mile to go to a workshop. Professor Wales submitted her travel log for a total of 650.11 miles. What reimbursement can Professor Wales expect? (Round to the nearest cent)
A. \$193.70
B. \$193.71
C. \$193.72
D. \$193.73
E. None of these

61. The Weather Channel reported that the normal snowfall is 138.44 inches for Lexington County. This winter the following snowfall occurred:

How much was the snowfall below normal?
A. 22.682 inches
B. 23.682 inches
C. 26.682 inches
D. 25.682 inches
E. None of these

62. If Jan sells 2,500 glow sticks on the Fourth of July at \$1.99 each, what will her total profit be if each stick cost her \$.88?
A. \$2,757
B. \$3,000
C. \$2,775
D. \$20,757
E. None of these

63. Mike Roland traveled 10,850 miles. His Ford truck averaged 16 miles per gallon. Assuming a gallon of gas cost \$2.10, what was Mike's gasoline cost for the trip?
A. \$1,404.06
B. \$1,400.06
C. \$1,442.06
D. \$1,444.06
E. None of these

64. Match the numbered words with the lettered definitions.

2. Difference
3. Dividend
4. Divisor
5. Minuend
6 Multiplicand
7. Multiplier
8. Product
9. Quotient
10. Remainder
11. Subtrahend
12. Sum
13. Whole number

A. Number in the division process that is being divided by another.
B. The answer to a division problem.
C. Top number in multiplication problem.
D. The answer to a multiplication problem.
E. Amount left over in the division process.
F. Numbers combined in adding process.
G. Bottom number in a multiplication problem.
H. Doesn't contain a decimal or fraction.
I. Larger number from which another is subtracted.
J. The total of the adding process.
K. Minuend less subtrahend.
L. Smaller number being subtracted from a large number.
M. Number in the division process that is dividing into another number

65. Express this verbal in number form:
Twelve thousand, nine hundred fifty-three

66. Round to nearest position as indicated:
Nearest Ten
74

67. Round to nearest position as indicated:
Nearest Hundred
792

68. Round to nearest position as indicated:
Nearest Thousand
9,314

69. Estimate by rounding all the way (do not round final answer):

70. Estimate by rounding all the way (do not round final answer):

71. Fill in missing number:

72. Fill in missing number:

73. Multiply by shortcut method:
130 ´ 1,000

74. Multiply by shortcut method:
6,150 ´ 10,000

75. Divide by shortcut method:
130,000 ¸ 1,000 =

76. Divide by shortcut method:
1,600 ¸ 10 =

77. Divide by long division (show work):
6,644 ¸ 181
Check

78. Estimated by rounding A. all the way and B. do actual calculation.
6,951 ¸ 81 A. Estimate _____________ B. Actual _____________

79. Ray Company received a shipment of 25 cartons of stereos. In each carton were five stereos. Each stereo sells for \$80 and has a \$30 cost to Ray. Assuming Ray sells all the stereos, what would his profit be?

80. Ron purchased two new Jeep Cherokees for \$22,500 per Jeep. He paid \$3,200 down on each car. What total amount should Ron borrow to pay for the cars?

81. John's Pizza sold \$11,130 worth of pizza for one week. Each pizza sells for \$6. Assuming that each day the same number of pizzas is sold, how many pizzas were sold each day? Assume a seven-day work week.

82. Fleet Center seats 14,500 people. Last night at the Celtics game 13,280 were in attendance. Total attendance for the season was 337,500. Assuming a 25-game home schedule, what is the average attendance per game? If each ticket cost \$18, what would a sellout bring in for revenue for a game?

83. What is the total of the following verbal forms?
Twelve thousand, four hundred eighty-four
Fourteen million, eight
Eleven thousand, six hundred twenty-two

84. Express in verbal form:

8,732,649

85. Round the following number:
Nearest Ten
65

86. Round the following number:
Nearest Hundred
686

87. Round the following number:
Nearest Thousand
7,108

88. Round the following number:
All the Way
15,915

89. Estimate by rounding all the way, work actual problem, and check by adding each column of digits separately:

A. Actual B. Estimate C. Check

90. A. Estimate by rounding all the way and B. Do actual calculation:

91. Multiply by the shortcut method:
629,510 ´ 1,000

92. A. Divide and B. check answer by multiplication:
16,192 ¸ 58

93. Divide by the shortcut method:
1,500 ¸ 50

94. Peter Broom, who lives in Boston, bought a round-trip ticket to Chicago for \$473. He handed the ticket agent five \$100 bills. What change does Broom receive?

95. Earl Miller plans to buy a boat for \$19,500 with an interest charge of \$2,500. Earl figures he can afford a monthly payment of \$650. If Earl has to pay 36 equal monthly payments, can he afford the boat?

96. In 2013, Peter Royan earned \$66,000 in real estate commissions. If Peter's average commission was \$6,000 per house, how many houses did Peter sell?

97. Art Missan has his oil tank filled 12 times per year. His oil tank has a 300-gallon capacity. Assuming the price of home heating fuel is \$3.00 per gallon and the tank is completely empty each time Art has it filled, what is Art's average monthly bill?
Try to complete the blueprint aid to dissecting a word problem.

 Oil filled 12 times per year Tank holds 300 gal \$3 per gallon Average monthly heating bill Total gallons used times cost per gallon equals total cost of oil Average monthly bill is total cost divided by 12 months in a year

98. Express this verbal in number form:
Eighteen thousand, one hundred sixty-five

99. Express this verbal in number form:
Thirty-eight thousand, five hundred three

100. Round to:
Nearest Ten
52

101. Round to:
Nearest Hundred
491

102. Round to:
Nearest Thousand
9,333

103. Round to:
Nearest Ten
84

104. Round to:
Nearest Hundred
671

105. Round to:
Nearest Thousand
6,752

106. Estimate by rounding all the way (do not round final answer):

107. Estimate by rounding all the way (do not round final answer):

108. Estimate by rounding all the way (do not round final answer):

109. Estimate by rounding all the way (do not round final answer):

110. Fill in the missing number:

111. Fill in the missing number:

112. Fill in the missing number:

113. Fill in the missing number:

114. Multiply by shortcut method:
115 ´ 1,000

115. Multiply by shortcut method
1,815 ´ 10,000

116. Multiply by shortcut method:
525 ´ 1,000,000

117. Multiply by shortcut method:
1,650 ´ 10,000

118. Divide by shortcut method:
160,000 ¸ 1,000

119. Divide by shortcut method:
190,000 ¸ 10,000

120. Divide by shortcut method:
180,000 ¸ 100

121. Divide by shortcut method:
165,000 ¸ 1,000

122. Divide by long division:
6,514 ¸ 191
Check

123. Divide by long division:
6,438 ¸ 132
Check

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