FIN 401 Lecture 9: Fin401_MT_W09_Wednesday_V1.doc

• School: Ryerson University
• Department: Finance
• Course: FIN 401
• Professor: Ron Babin

Document Summary

Wednesday, february 25, 2009, 3:00 p. m. version a. Aids allowed: closed book except for an 8"1/2 by 11" note sheet. Answer all multiple choice questions on the scan sheet. All multiple choice questions are worth 1 mark each. Take it: a, b, please fill in the blank. The owner of digitaworks is not a separate legal entity from the firm itself. Based on this information, digitaworks is most likely a ___________: corporation, partnership, sole proprietorship, none of the above, please fill in the blank. The business is most likely a _____________: sole proprietorship, partnership, corporation, charity, none of the above, balance sheet items often vary based on sales. Which of the following balance sheet items is. Least likely to vary depending upon sales (at least in the short-run): cash, accounts receivable, accounts payable d, long-term debt. Inventory: once again, balance sheet items often vary based on sales.