30. Which of the following forms of business organizations exists as a legal entity? Select one: A. A sole proprietorship B. A labor union C. A corporation D. A partnership

31. Data from the financial statements of The Kroger Company and SuperValu, Inc., two national grocery chains are presented below (in millions):

$ in thousands

The Kroger Co.

SuperValu, Inc.

Total liabilities, 2012 ......	$19,510	$12,032
Total liabilities, 2011 ......	18,207	12,418
Total assets, 2012 ......	23,476	12,053
Total assets, 2011 .......	23,505	13,758
Revenue, 2012 ....	90,374	36,100
Net income (loss), 2011.......	602	(1,040)

To the nearest hundredth of a percent, what is the 2012 return on equity ratio for The Kroger Company?

Select one:

A. 1.39%B. 13.00%C. 0.30%D. Not enough information provided

32. The qualitative characteristic of accounting information known as comparability means that the same accounting methods should be used from one period to the next, whenever possible. Select one: True False

33. Which one of the following isnota key linkage among the four primary financial statements? Select one: A. The expenses in the income statement link to the total liability balance B. The income statement links to the ending retained earnings in the statement of stockholders' equity C. The statement of stockholders' equity links to ending equity in the balance sheet D. The statement of cash flows links to ending cash in the balance sheet

34. Which of the following would be reported on a statement of stockholders' equity? Select one: A. Dividends B. Total expenses C. Cash D. Financing cash flow

35. One reason companies are motivated to disclose financial information to external decision makers is that it may lower financing and operating costs. Select one: True False

36. Other than operating profit, there are three main sources of external financing. Select one: True False

37. The conceptual framework developed by the FASB includes a statement of the objectives of financial reporting and a discussion about the qualitative characteristics of accounting information. Select one: True False