1. The term laissez-faire means that: a. the government should regulate industries b. key industries should be owned by the government c there should be limited intervention by upper level managers in business activity d. the government should leave business activities to function according to socialistic e. none of the above 2. If a firm's inventory turnover has decreased, what might be a cause? high debt levels in the firm b. fast-selling inventory C. d. ower selling prices non-competitive products 3. In the statement of cash flows, which of the following activities shows the amount of cash that flows into a company from the sale/disposal of fixed assets? a. Recreational activities b. Financing activities c. Investing activities d. Operating activities e. None of the above 4. The balance sheet of Holiday Corp. shows its total assets as $500,000 and stockholder's equity as $325,000. This means that Holiday's: a. Current assets are $175,000 b. Common equity is $75,000 c. Net income for the current year is $170,000 d. Current liabilities are $175,000 e. the balance sheet will balance if we sell $175,000 of fixed assets S. Which of the following is true for a sole proprietor? you have to share control of your business with partners you must file Articles of Incorporation to legally form the business you have unlimited liability any profits earned are distributed to the creditors none of the above are true b. d. 6. If you are Ford Motor and are performing a cross-sectional analysis, which of the following are you likely to utilize in your comparative analysis? a. data from Kroger b. data from Citizens Bank c. data from Honda d. data from Target