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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting and Valuation.

Multiple Choice Questions

1. Confusing ________ requirements were offset by the partners' willingness to report look-through earnings.
(a) Stock.
(b) Accounting.
(c) Market.
(d) Tax.

2. Buffett preferred to trade a narrow range around _________ business value to favor long-term owners.
(a) Intrinsic.
(b) Guesstimated.
(c) Promised.
(d) Market.

3. A company might consider repurchasing _______ when it has available funds that are above long-term needs.
(a) Shares.
(b) Bills.
(c) Bonds.
(d) Fallen angels.

4. Buffett admitted that issuing ________ in mergers cost shareholders money, according to the book.
(a) Bonds.
(b) Bills.
(c) Stock.
(d) Announcements.

5. Buffett and Munger run the business so that all ___________ gain proportionately.
(a) Shareholders.
(b) Banks.
(c) Lending agencies.
(d) Companies.

Short Answer Questions

1. Two super contagious diseases in the investment world included _______ and greed, according to the book.

2. Buffett and his partner preferred to buy a company at a fair price at _______% interest.

3. What was the name of the bank that had substantial equity interest in Berkshire?

4. Berkshire kept the business operating after the acquisition, since it would already have successful ___________.

5. Buffett managed by ________-related business principles, according to the book.

(see the answer key)

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