09.01.2011

2011 AxSA Factoid Quiz

Thanks for participating. Here are the answers.

1) In 2010, how many people in this country launched new businesses?
A) 250 of every 500,000
B) 340 of every 100,000
C) 50 of every 100,000
D) 430 of every 200,000

2) This year, small businesses can accelerate the depreciation deduction on the costs of new and used equipment by 100%, up to what amount of value?
A) $100,000
B) $250,000
C) $500,000
D) $1,000,000

3) Since the early 1900’s, our country has experienced 19 recessions. From these, how many times did America slip right back into recession?
A) Never
B) Three
C) Eight
D) Ten

4) Complete the following statements with the correct answers:

Beginning in 2012, all businesses are required by law to file 1099 forms for all vendors from whom they procure goods and services exceeding ____ per year.
A) $1000
B) $5000
C) $2500
D) $600

If the tax ID number of the vendor is unknown, the IRS recommends that the purchaser withhold___ percent of the payment to the vendor and remit that amount to the tax-collecting agency.
A) Twenty-five percent
B) Twenty-eight percent
C) Thirty-three percent
D) None of the above

5) Which company experienced a 5,000% spike in broadband usage over three years prior to 2011?
A) Verizon
B) AT&T
C) Deutsche Telecom
D) NTT DOCOMO

6) What one source accounts for 25% of the world’s 10 billion tons of carbon dioxide emissions each year?
A) Gasoline-powered automobiles
B) Bovine flatulence
C) Coal- and natural gas-burning power plants
D) Nuclear power plants

7) As oil prices have risen, fallen, and risen again, which of the following has also followed suit?
A) Wine
B) Water
C) Sodas
D) All of the above

8) How much do global consumers spend on oil?
A) $10 million per hour
B) $4 million per minute
C) $2.5 billion per day
D) None of the above

9) Of the top six countries in the world, one does not have a democratic government. Which one is it?
A) Brazil
B) Russia
C) India
D) China

10) Attendance at NFL games has dropped at a rate of 2.4% since 2007. What has been the primary culprit for this shift?
A) Higher ticket prices at newly-renovated stadiums
B) Poor performance from football players following the imposition of new tactical rules
C) An uptick in rowdy and often violent behavior from fans
D) The proliferation of HD televisions in the home

11) More than 73 million fans turned out for Major League Baseball games in 2010. Thanks in large part to that attendance, how much revenue did the league see last year?
A) $45 million
B) $900 million
C) $7 billion
D) $25 billion

12) Of the 1.6 million high-school seniors who took the ACT in 2010, what percentage did not score well enough in any section to show their preparedness for college?
A) 10 percent
B) 28 percent
C) 48 percent
D) 78 percent

13) Which of the following is inaccurate?
A) The United States government spends $300 billion per month, and must borrow as much as $120 billion of that amount, per month, in order to meet its budgetary obligations.
B) The federal government only collects the equivalent of 14% of GDP per annum from American taxpayers.
C) Following the bailouts and stimulus spending, in Q3 of 2009, the total debt of the nation amounted to $3.70 for every one dollar of the nation’s economic output.
D) All of the above statements are true.

14) The Social Security disability fund has more than 10 million recipients, as of last year. Which one state saw an 85% increase in the number of its recipients over the last ten years?
A) New Mexico
B) Florida
C) Texas
D) New York

15) Which of the following countries boasted one of the highest homicide rates in the world in 2008?
A) United States
B) Russia
C) Finland
D) South Africa

16) Consumers worldwide are expected to spend $15 billion on what type of product in the coming year?
A) Clothing
B) Home furnishings
C) Mobile apps
D) Luggage and travel accessories