Which of the following is not a key question to ask when buying a business?
a. Why is the business being sold?
b. Is the building heated with gas or electricity?
c. What is the condition of the inventory?
d. How many of the employees will remain?
ANSWER: b
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Which of the following best describes horizontal analysis?
A) comparing financial statement line items from year to year for the same company B) expressing each financial statement amount as a percentage of a budgeted amount C) comparing a company's financial statements with other companies D) calculating key ratios to evaluate performance
The SEC drafted report required by Sarbanes-Oxley used which of the following terms to refer to a principles-based approach to standards?
a. Bright line standards b. Rule-oriented standards c. Objective-oriented standards d. Systematic and rational standards
Most pit crew members have background experience in what area?
A) mechanical engineering B) athletics C) car mechanics D) automobile race driving E) No specific area—crew members come from all sorts of backgrounds.
Minerals, chemicals, timber, and agricultural products are considered
A. process materials. B. accessory materials. C. MRO supplies. D. component parts. E. raw materials.