Exam2 - Exam 2 1.The 52-week high and low are the highest...

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Exam 2 1. The 52-week high and low are the highest and lowest prices, respectively, paid for a stock in the last B. year. 2. Bob Banker has to decide whether to lend the Yubble Bubble Gum Company $10,000 to pay suppliers. He will A. review the company's financial statements. 3. If Linda Wilson borrows $20,000 to buy a car and ends up paying the lender a total of $24,000, the $4,000 difference represents the E. interest. 4. The maximum amount the FDIC insures an account for is C. $100,000. 5. A finance company to whom businesses sell their accounts receivable, usually for a percentage of the total face value, is known as a(n) A. factor. 6. As a medium of exchange, money A. eliminates the cumbersome barter system. 7. If a firm tries to produce goods just in time to meet sales demand, its level of inventory will tend to be A. relatively low. 8. The system of recording and classifying business transactions in separate accounts in order to maintain the balance of the accounting equation is called D. double-entry bookkeeping. 9. A company's assets that can be easily converted into cash are called C. current assets. 10. Which of the following is an example of a long-term liability? B. Bond 11. In the documentary, “American Dream”, what was the major flaw in the labor union’s strategy? E. all of the above 12. An accounting term that is synonymous with revenue is C. sales. 13. A method of long-term financing that requires repaying funds with interest is A. issuing bonds.
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14. Information found on the company's income statement and balance sheet is extracted from these documents
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