Terry Core Challenge

Questions

Question 1
Feb. 11 - 14
Question 2
Feb. 18 - 21
Question 3
Feb. 25 - 28
Question 4
Mar. 4 - 7
Question 5
Mar. 18 - 21
Question 6
Mar. 25 - 28
Question 7
Apr. 1 - 4
Question 8
Apr. 8 - 11
Question 9
Apr. 15 - 18
Question 10
Apr. 22 - 25

Past Answers

Week 1 Feb 11–Feb 13

Which of the following statements is incorrect?

  • The normal balance of accounts receivable is a debit.
  • The normal balance of dividends is a debit.
  • The normal balance of cash is a credit.
  • The normal balance of revenues is a credit.
Week 2 Feb 18–Feb 20

True or False?
Only written contracts are legally enforceable.

  • True
  • False
Week 3 Feb 25–Feb 27

You are offered a loan today in the amount of $50,000. The loan will be repaid with 60 monthly payments of $1,200. What is the effective annual interest rate for this loan?

  • 7.68%
  • 12.63%
  • 16.53%
  • 18.71%
  • 29.46%
Week 4 Mar 4–Mar 6

Starbucks has expanded internationally using so-called greenfield ventures. Which of the following is NOT an advantage of such a strategy?

  • Brand name control
  • Quick market entry
  • Control over quality
  • Use of existing infrastructure
Week 5 Mar 18–Mar 20

________ models how a specific class of users will use a system for a specific task by listing the process steps and alternatives.

  • a. A use case
  • b. A data model
  • c. User generated content
  • d. A work breakdown structure
Week 6 Mar 25–Mar 27

A high school student does gardening chores for families in her neighborhood for extra cash. At $5 per hour, she is willing to work for 5 hours a week. At $7 per hour, she will do 10 hours of work. Using the midpoint method, what is her elasticity of supply?

  • a. 0.23
  • b. 0.66
  • c. 2.00
  • d. 4.33
Week 7 Apr 1–Apr 3

Patents on allergy relief medications like Allegra and Claritin give the pharmaceutical companies that own the patents a(n) _____ for 17 years until the patent expires.

  • a. strategic focus
  • b. situational strength
  • c. opportunistic privilege
  • d. targeted market position
  • e. sustainable competitive advantage
Week 8 Apr 8–Apr 10

Which of the following is a “rule of thumb” with regards to short-term decision making?

  • a. Past costs should not factor into decision making.
  • b. Fixed costs should be analyzed on a per unit basis.
  • c. Qualitative factors are irrelevant to decision making.
  • d. Variable costs should be analyzed in total.
Week 9 Apr 15–Apr 17

Which of the following would be included in U.S. GDP as part of government expenditures?

  • a. Subsidies to farmers
  • b. The salaries paid to Washington news correspondents covering Capitol Hill
  • c. The purchase of internet services for the U.S. House of Representatives
  • d. The payment of Social Security benefits
  • e. All of the above
Week 10 Apr 22–Apr 24

You completely finance the purchase of a new Honda Odyssey for $25,000. The terms of the loan are 60 months of payments with a loan rate of 2.4% APR with monthly compounding. What is the balance on the loan after the first 12 payments?

  • a. $17,812
  • b. $17,889
  • c. $19,028
  • d. $20,237
  • e. $20,295

How It Works

water bottle
If you answer correctly, you may win a TCC t-shirt and an Au Bon Pain gift card.

Who can participate?

The Terry Core Challenge is only open to Terry students.

How to play

You’ll find a new question posted here each Monday.

The question relates to the BBA curriculum. (Hope you’ve been paying attention…)

Answer the question by 8 a.m. Thursday.

If you answer correctly, you may win a TCC t-shirt and an Au Bon Pain gift card.

We’ll give a prize away every Friday. Don’t worry — we’ll email you if you win.

But wait… there’s more!

Answer a majority of the questions correctly and you'll also be entered in a drawing for a Last Resort Grill gift card + a reception with Dean Ayers!

Simple enough, right? Good luck!

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