QUESTION 6

1. According to ebook 2, the recent IPO by Snapchat's parent company Snap Inc. raised nearly $25 billion, making it one of the largest companies to debut in the U.S. The Wall Street Journal article reviewed in the ebook cites that the largest IPO since 2008 is done by:

   	A.	Snap Inc.
   	B.	IBM
   	C.	Alibaba
   	D.	GM

2.5 points

QUESTION 7

1. 	Apple, Amazon, Coca Cola, and other successful firms have accumulated a substantial amount of value due to their strong brand equity and market leadership, which cannot be explained by the tangible assets in their balance sheet. This type of asset is classified as ______ in the balance sheet.

   	A.	Goodwill
   	B.	Current assets
   	C.	Long-term earnings
   	D.	Current liabilities

2.5 points

QUESTION 8

1. The preparation of financial statements for people outside the firm (creditors, unions, suppliers, and others) is the goal of:

   	A.	cost accounting.
   	B.	auditing.
   	C.	managerial accounting.
   	D.	financial accounting.

2.5 points

QUESTION 9

1. Planning, budgeting, obtaining funds, managing receivables, payables, and inventory, and managing taxes are all part of a(n) ________ job.

   	A.	portfolio manager's
   	B.	CPA's
   	C.	investment banker's
   	D.	financial manager's

2.5 points

QUESTION 10

1. The fundamental accounting equation states that assets equal __________.

   	A.	liabilities plus owners' equity
   	B.	liabilities plus receivables
   	C.	payables plus cash equivalents
   	D.	liabilities minus owners' equity