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Unformatted text preview: ch1 Student: _______________________________________________________________________________________ Multiple Choice Questions 1. The person generally directly responsible for overseeing the tax management, cost accounting, financial accounting, and information system functions is the: A. treasurer. B. director. C. controller. D. chairman of the board. E. chief executive officer. 2. The person generally directly responsible for overseeing the cash and credit functions, financial planning, and capital expenditures is the: A. treasurer. B. director. C. controller. D. chairman of the board. E. chief operations officer. 3. The process of planning and managing a firm's long-term investments is called: A. working capital management. B. financial depreciation. C. agency cost analysis. D. capital budgeting. E. capital structure. 4. The mixture of debt and equity used by a firm to finance its operations is called: A. working capital management. B. financial depreciation. C. cost analysis. D. capital budgeting. E. capital structure. 5. The management of a firm's short-term assets and liabilities is called: A. working capital management. B. debt management. C. equity management. D. capital budgeting. E. capital structure. 6. A business owned by a single individual is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 7. A business formed by two or more individuals who each have unlimited liability for business debts is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 8. The division of profits and losses among the members of a partnership is formalized in the: A. indemnity clause. B. indenture contract. C. statement of purpose. D. partnership agreement. E. group charter. 9. A business created as a distinct legal entity composed of one or more individuals or entities is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. unlimited liability company. 10. The corporate document that sets forth the business purpose of a firm is the: A. indenture contract. B. state tax agreement. C. corporate bylaws. D. corporate charter. E. articles of incorporation. 11. The rules by which corporations govern themselves are called: A. indenture provisions. B. indemnity provisions. C. charter agreements. D. bylaws. E. articles of incorporation. 12. A business entity operated and taxed like a partnership, but with limited liability for the owners, is called a: A. limited liability company. B. general partnership. C. limited proprietorship. D. sole proprietorship. E. corporation. 13. The primary goal of financial management is to: A. maximize current dividends per share of the existing stock....
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ch1 - ch1 Student:

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