1.Which of the following transactions will increase a corporation's operating return on assets? A) sell stock and use the money to pay off some long-term debt B) sell 10-year bonds and use the money to pay off current liabilities C) negotiate a new contract that lowers raw material costs by 10% D) increase sales by 10% 2. In an ideal world, which of the following would be used to evaluate firm performance? A) book value of assets B) corporate retained earnings from the day of incorporation C) accounting assets and profits D) market value of assets 3. All of the following measure liquidity except: A) current ratio. B) inventory turnover. C) acid-test ratio. D) operating return on assets 4. Williams Inc. has a current ratio equal to 3, a quick ratio equal to 1.8, and total current assets of $6 million. William's inventory balance is A) $2,000,000. B) S2,400,000. C) $4,000,000. D) $4,800,000