What does the adverse opinion of an auditor mean in terms of a firm's financial statement?
Question 2 - Which of the following is an example of a horizontal merger?
A) The purchase of a catering firm by Delta Airlines
B) The purchase of Marathon Oil Company by U.S. Steel
C) The purchase of Kentucky Fried Chicken by PepsiCo
D) The purchase of Sam's Meat Packing Company by the Kroger supermarket chain
E) The purchase of Mobil Oil by Exxon
Question 3 - Because information rules must be checked out before a decision can be made, they lengthen the time required to analyze choices.
Indicate whether the statement is true or false
Question 4 - MBO stands for
A) managing by organizing.
B) management by objectives.
C) management by others.
D) motivation by objective.
E) management by orders.
Question 5 - What is the accounting equation? Define each term in the equation.
Question 6 - When Compaq and Hewlett-Packard decided to become one company, this was an example of a(n)
A) acquisition.
B) hostile takeover.
C) horizontal merger.
D) conglomerate merger.
E) joint venture.
Question 7 - The cost of goods sold for McPherson Fashions is 360,000. The beginning inventory for the firm was 20,000. Twelve months later the ending inventory was 40,000. What is the firm's inventory turnover?
A) 6 times a year
B) 9 times a year
C) 12 times a year
D) 18 times a year
E) 24 times a year
Quick Reply
