1. If sales for 20x4 (the base year), 20x5, and 20x6 are $40,000, $31,200, and $49,200, respectively, the index numbers assigned to 20x5 and 20x6, respectively, are

Question 1 options:

1)	62.4 and 128.

2)	156 and 118.

3)	128.2 and 133.

4)	78 and 123.

2. If dividends declared per share during 20x4 (the base year), 20x5, and 20x6 are $4.80, $3.60, and $4.32, respectively, the index numbers assigned to 20x5 and 20x6, respectively, are

Question 2 options:

1)	75 and 90.

2)	60 and 95.

3)	180 and 80.

4)	133.3 and 110.

3. Areas that require accounting estimates include all of the following except

Question 3 options:

1)	executive compensation.

2)	residual value of assets.

3)	amortization periods.

4)	environmental cleanup costs.

4. Bank of the Pacific is a local bank operating primarily in Portland, Oregon. The bank accepts deposits from and makes loans to local businesses and individuals. Which of the following accounting estimates would be most important for Bank of the Pacific?

Question 4 options:

1)	Uncollectible accounts receivable.

2)	Warranty claims.

3)	Total units of production.

4)	Sales returns.