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

Multiple Choice Questions

1. On the other hand, a zero bond may not require _________, but can be satisfied with pay in kind bonds.
(a) Legal help.
(b) Papers.
(c) Cashouts.
(d) Interest payments.

2. Which state was Buffett worried about in terms of its ability to create good investments for his company?
(a) California.
(b) Hawaii.
(c) Alabama.
(d) Illinois.

3. What was the one thing that Munger and Buffett would not address in their question sessions?
(a) Numbers.
(b) Nothing.
(c) Personal business.
(d) Investment strategies.

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

5. What was the name of the bond holdings that Buffett added to Berkshire in 1989?
(a) Arrowhead.
(b) RJR Nabisco.
(c) Pepsi.
(d) General Mills.

Short Answer Questions

1. The different classes of stock allow _______ investors to still have value for the money they can spend.

2. Buffett and Munger believed that investors should pay attention to business results, not __________.

3. Buffett made distinctions in ________ policy to account or differences in earnings, according to the book.

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

5. The Berkshire dividend share of Coca-Cola in 1990 included operating earnings of ___________.

(see the answer key)

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