The Essays of Warren Buffett: Lessons for Corporate America Test | Final Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. A stock _______ might attractive investors unlike their current investor group which might downgrade the quality of the shares.
(a) Selloff.
(b) Split.
(c) Sale.
(d) Option.

2. Major business activities grouped together aided _____ by providing data in a more useful form.
(a) Analysis.
(b) Future goal setting.
(c) Investments.
(d) Stock prices.

3. Accounting for the purchase of a business required allocating the ________ first to the fair value of net assets.
(a) Dividends.
(b) Purchase price.
(c) Projected price.
(d) Stock market.

4. Options were often ______ at exercise which made them more expensive than publicly traded options.
(a) Re-priced.
(b) Undervalued.
(c) Moved.
(d) Presented.

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

6. Some CEOs think that manipulating __________ could encourage the highest stock price available.
(a) Earnings.
(b) Portfolios.
(c) Mergers.
(d) Reports.

7. Berkshire is too well developed and managed to add intrinsic business value with new ___________ paid for with common stock.
(a) Selloffs.
(b) Acquisitions.
(c) Bonds.
(d) Notes.

8. What was NOT one of the three tax-free gifting tactics that Buffett suggested to shareholders?
(a) Partnership form.
(b) Will gifting.
(c) Bargain sale.
(d) Married couple gifting.

9. ________ earnings were the reporting of income of one company that owns another.
(a) Truthful.
(b) Look through.
(c) Variant.
(d) Fixed.

10. Inventory was carried at _______ value to minimize any loss from accounting adjustments in addition to other satirical accounting action.
(a) $1.
(b) $99.
(c) $10.
(d) $20.

11. Generally, earnings were reported when classified by a company as more than _______ owned.
(a) 25%.
(b) 10%.
(c) 50%.
(d) 99%.

12. Berkshire shareholders can be assured that the company _______ statements are accurate.
(a) Recommended.
(b) Holding.
(c) Honor.
(d) Financial.

13. Buffett avoids _________ share value to existing shareholders by true value for value merger, using stock as inflated currency.
(a) Dispersing.
(b) Diluting.
(c) Stabilizing.
(d) Increasing.

14. Owners were expected to conclude that retained _______ were better left in the corporation for reinvestment at a higher rate than paid out as dividends.
(a) Losses.
(b) Values.
(c) Shares.
(d) Earnings.

15. Buffett followed the simple rule that the same amount of intrinsic business value must be exchanged with each ________ transaction.
(a) Dividend.
(b) Movement.
(c) Stock.
(d) Legal.

Short Answer Questions

1. Information helped investors see the likelihood of a company meeting future __________.

2. Buffett and Munger believed that marketability and __________ were two terms that increased the likelihood of turnover.

3. Businesses must recognize present value _______ for post-retirement health benefits, according to Buffett.

4. How many shareholders did a business that wanted to be on the NYSE have to have?

5. Buffett realized that it was helpful to be _________ when others were fearful in the market.

(see the answer keys)

This section contains 389 words
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