QUESTION 10 Which of the following ratios measures profitability? times-interest-earned ratio X inventory turnover book value per share of common shares return on total assets QUESTION 11 Management salaries are generally considered to be which type of account? Fixed expense Variable expense Unapplied expense Semi-fixed expense X QUESTION 12 Current accounting rules which must be used by corporations whose shares are traded on stock exchanges are called: GAAP X IFRS ASPE CICA CPA