Course Prin Of Finance Test Quiz 7 Instructions This quiz consist of 20 multiple choice questions. The first 10 questions cover the material in Chapter 13. The second 10 questions cover the material in Chapter 14. Be sure you are in the correct Chapter when you take the quiz.Question 1 For a given accounting period, which of the following is likely to represent primarily variable costs?Answer Question 2 The depreciation method currently used for tax purposes today is called the:Answer Question 3 The average tax rate on a corporation with $75,000 in income and a tax liability of $15,000 is:Answer Question 4 The financial statement that provides a snapshot view of the financial condition of a business at a point in time is the:Answer Question 5 Of the following forms of business organization, which have the advantage of limited liability but no stockholders?Answer Question 6 The U.S. federal government body that regulates the sale and listing of securities on U.S. financial markets is the:Answer Question 7 On the balance sheet, total assets minus net fixed assets equals:Answer Question 8 Of the following forms of business organization, which have stockholders with limited liability?Answer Question 9 Current liabilities would not include:Answer Question 10 The accrued liabilities of a firm are:Answer Question 11 If a firm’s sale price per unit decreases, the firm’s operating breakeven point willAnswer Question 12 The method of evaluating the firmâs performance over time is known as:Answer Question 13 _____________ costs are a function of time (not sales) and are generally contractual.Answer Question 14 Ratios used to compare different firms at the same point in time belong to a category of analysis called:Answer Question 15 _____________ costs are a function of quantity sold, not time.Answer Question 16 The extent to which assets are financed by borrowed funds and other liabilities is indicated by:Answer Question 17 The equity multiplier is calculated as:Answer Question 18 Which one of the following ratios indicates the average number of days that sales are outstanding?Answer Question 19 The price/earnings ratio (P/E) is calculated as:Answer Question 20 The extent to which assets are used to support sales is indicated by which of the following ratios:Answer
