Question 1: For a given accounting period, which of the following is likely to represent primarily variable costs?

Question 2: The depreciation method currently used for tax purposes today is called the:

Question 3: The average tax rate on a corporation with $75,000 in income and a tax liability of $15,000 is:

Question 4: The financial statement that provides a snapshot view of the financial condition of a business at a point in time is the:

Question 5: Of the following forms of business organization, which have the advantage of limited liability but no stockholders?

Question 6: The U.S. federal government body that regulates the sale and listing of securities on U.S. financial markets is the:

Question 7: On the balance sheet, total assets minus net fixed assets equals:

Question 8: Of the following forms of business organization, which have stockholders with limited liability?

Question 9: Current liabilities would not include:

Question 10: The accrued liabilities of a firm are:

Question 11: If a firm's sale price per unit decreases, the firm's operating breakeven point will

Question 12: The method of evaluating the firm's performance over time is known as:

Question 13: _____________ costs are a function of time (not sales) and are generally contractual.

Question 14: Ratios used to compare different firms at the same point in time belong to a category of analysis called:

Question 15: _____________ costs are a function of quantity sold, not time.

Question 16: The extent to which assets are financed by borrowed funds and other liabilities is indicated by:

Question 17: The equity multiplier is calculated as:

Question 18: Which one of the following ratios indicates the average number of days that sales are outstanding?

Question 19: The price/earnings ratio (P/E) is calculated as:

Question 20: The extent to which assets are used to support sales is indicated by which of the following ratios: