Please answer all the questions below, thank you!

1. A business created as a distinct legal entity and treated as a legal "person" is called a:

A. corporation.

B. sole proprietorship. C. general partnership. D. limited partnership. E. unlimited liability company.

2.Which of the following questions are addressed by financial managers?

I. How should a product be marketed? II. Should customers be given 30 or 45 days to pay for their credit purchases? III. Should the firm borrow more money? IV. Should the firm acquire new equipment? A. I and IV only B. II and III only C. I, II, and III only D. II, III, and IV only E. I, II, III, and IV

3.The decision to issue additional shares of stock is an example of which one of the following?

A. working capital management B. net working capital decision C. capital budgeting

D. controller's duties E. capital structure decision

4.Which of the following accounts are included in working capital management?

I. accounts payable II. accounts receivable III. fixed assets IV. inventory A. I and II only B. I and III only C. II and IV only D. I, II, and IV only

E. II, III, and IV only

5.Which of the following individuals have unlimited liability based on their ownership interest?

I. general partner

II. sole proprietor

III. stockholder

IV. limited partner

A. II only

B. I and II only C. II and IV only

D. I, II, and III only

E. I, II, and IV only

6.Which one of the following is a source of cash?

A. repurchase of common stock B. acquisition of debt C. purchase of inventory

D. payment to a supplier E. granting credit to a customer

7. On the Statement of Cash Flows, which of the following are considered financing activities?

I. increase in long-term debt II. decrease in accounts payable III. interest paid

IV. dividends paid

A. I and IV only B. III and IV only

C. II and III only D. I, III, and IV only

E. I, II, III, and IV

8. On a common-size balance sheet all accounts are expressed as a percentage of:

A. sales for the period. B. the base year sales. C. total equity for the base year.

D. total assets for the current year.

E. total assets for the base year.

9.If a firm has a debt-equity ratio of 2.0, then its total debt ratio must be which one of the following?

A. 0.0

B. 0.5

C. 0.33

D. 0.67

E. 1.0

10.A firm has sales of $2,190, net income of $174, net fixed assets of $1,600, and current assets of $720. The firm has $310 in inventory. What is the common-size statement value of inventory? A. 13.36 percent B. 14.16 percent

C. 19.38 percent

D. 30.42 percent

E. 43.06 percent