1) Which of the following is the formula to calculate a firm's inventory turnover ratio?

a.Inventory Turnover = Sales Inventory

b.Inventory Turnover = Cost of goods sold Inventory

c.Inventory Turnover = Inventory Current assets

d.Inventory Turnover = Inventory Accounts receivables

e.Inventory Turnover = (Sales - Cost of goods sold) Inventory

2) The Sarbanes-Oxley Act of 2002 requires the chief executive officer of a publicly-traded corporation to _____.

a.keep confidential the procedures used to construct and report financial statements.

b.certify financial reports that are submitted to the Securities and Exchange Commission.

c.pursue interests that result in large gains for them and large losses for stockholders

d.oversee the corporation's audit and attest the audit report

e.render an unbiased (independent) opinion concerning the firm's financial statements

3) In the United States, the most common form of business is the _____, and the form of business that generates most of the sales and profits is the _____.

a.corporation; corporation

b.corporation; proprietorship

c.proprietorship; partnership

d.proprietorship; corporation

e.corporation; partnership

4) Which of the following dissects a single ratio into two or more related ratios?

a.DuPont analysis

b.Ratio analysis

c.Comparative analysis

d.Trend analysis

e.Benchmarking

5) The accounting and tax departments are the responsibility of the _____.

a.treasurer

b.inventory manager

c.director of capital budgeting

d.vice president of finance

e.controller