1.

Which of the following is not an advantage for a company that sells bonds?

		Legal obligation to pay interest
		Temporary source of funds
		Interest is tax-deductible
		Can be repaid before maturity with call provision

2.

Which of the following is not a role of a managerial accountant?

		Preparing budgets
		Preparing information and analyses for people outside of the organization
		Measuring and reporting costs of production, marketing, and other functions
		Designing strategies to minimize taxes

3.

Which of the following is not an example of a short-term fund?

		Unanticipated emergencies
		New product development
		Expanding current inventory
		Meeting monthly expenses

4.

Which type of user would be interested in the financial statements (e.g., income statement, balance sheet, statement of cash flows) found in annual reports?

		Government taxing authorities (e.g., the Internal Revenue Service)
		Managers of the firm
		People interested in the organization's income and financial position (e.g., owners, creditors, financial analysts, suppliers)
		Government regulatory agencies