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This quiz consists of 5 multiple choice and 5 short answer questions through Corporate Governance.

Multiple Choice Questions

1. Essays are from __________ that Buffett prepared for and wrote for Berkshire shareholders.
(a) Trainings.
(b) Annual reports.
(c) Personal notes.
(d) Seminars.

2. Buffett and Munger also followed the idea of minimal use of _______ and leverage, helping to create solid investments.
(a) Recovery.
(b) Consolidation.
(c) Debt.
(d) Divestment.

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

4. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.
(a) Power.
(b) Promise.
(c) Value.
(d) Dividends.

5. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.
(a) Responsibilities.
(b) Workers.
(c) Supervisor.
(d) Authority.

Short Answer Questions

1. How much was the company worth that Buffett and his partner created at the time of this book?

2. What was the value of the shares of the company that Buffett and his partner purchased thirty years after its purchase?

3. When did Berkshire Hathaway begin as a textile company?

4. A __________ was something that Buffett and Munger believed was valuable to inform businesses owners of the year's business growth.

5. Buffett thought that any CEO who set earning targets and forecasts might also take ______ with accounting measures.

(see the answer key)

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