45. Exchange Traded Funds (ETFs) or Index Funds A) Are a basket of securities designed to track an index B) Create an opportunity for investors to own domestic stock markets C) Are open-end mutual funds D) Are load funds traded on stock exchanges 46. The major device for measuring the proftability of a firm over a defined period of time is the A) Income statement B) Balance sheet. C) Statement of cash flow. D) None of the above. 47. The indicates what the firm owns and how assets are financed. It is a snapshot of the total worth of a firm at a given point in time. A) Income statement B) Balance sheet C) Sources and uses of funds statement None of the above D) 48. ratios measure the ability of a firm to earn an adequate return on sales, total assets and invested capital. A) Asset utilization B) Liquidity C) Profitability D) Debt utilization 49. The primary purpose of the liquidity ratios is to determine A) How much working capital is tied up in inventory. B) The relative level of short-term debt. C) How well a firm is able to pay off short-term obligations. D) More than one of the above. 50. The commitment of current funds in anticipation of receiving a larger future flow of funds is called A) a financial asset. B) a real asset. C) an investment D) none of the above