MULTIPLE CHOICE QUESTIONS (40 pts) 1. Which of the following businesses use a premium-price emphasis? a. Value City Furniture b. Abercrombie & Fitch c. Wal-Mart Supercenters d. Southwest Airlines 2. Capital market stakeholders have an interest in the company because They provide incentives for the company to market their products. a. b. They are part of the Marketing Department that is responsible for promoting the products or services to increase the business profits They help market their products to customers or find vendors to supply needed inputs c. d. They provide major financing for the business. 3. The role of accounting in business is best defined as: information system that provides reports to stakeholders about the economic activities and condition of a business. a An b. A method of forecasting the future profitability of a company. The policies, procedures, and strategies used in a business. c. d. Transaction analysis. 4. A list of assets, liabilities, and owners' equity as of a specific date is a (n) a Income statement b. Balance sheet. c Statement of cash flows d. Retained earnings statement. 5. Which of the following is NOT considered to be a liability? a. Note payable b. Accounts receivable c. Unearned revenues d. Accounts payable