1. If current liabilities are due within one year after the balance sheet date, why do we need to know the instant debt-paying ability of the quick ratio (also known as the acid-test ratio)?

2. How can debt with interest "shield" or lower a business's tax amount?

3. From looking at Return on Equity and Return on Assets of a business for a year, what is a quick way to tell if financial leverage is working to the business's advantage?

4. What impact does increasing interest rates have on a business?