QUESTION 33

1. Which of the following statements is FALSE?

		NAICS and SIC codes are essentially the same thing
		NAICS and SIC codes classify businesses to collect, analyze and publish statistical data related to the US economy
		SIC codes are no longer used in the US
		NAICS codes were jointly created by the US, Canada, and Mexico

QUESTION 34

1. Which of the following ratios compares total debt to total owners equity to evaluate the ability to meet long-term obligations

		Return on Sales
		Accounts payable turnover
		Current ratio
		Debt to equity ratio

QUESTION 37

The FASB enforces GAAP which is set by the SEC

True

False

QUESTION 38

1. What makes information useful?

		It is extremely detailed, no matter how much it costs to collect it
		It is easy to obtain
		It is interesting, even when it is not exactly relevant to decision making
		It is reliable, you can trust it to make a decision