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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting Policy and Tax Matters.

Multiple Choice Questions

1. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.
(a) Research.
(b) Shareholders.
(c) Funding.
(d) Information.

2. What kind of pro told Buffett the piece of information that helped to guide them on the field?
(a) Baseball.
(b) Golf.
(c) Football.
(d) Soccer.

3. Berkshire might evolve into a _______ form of board situation, upon Buffett's death, according to the book.
(a) Second.
(b) Dissolved.
(c) Third.
(d) Fourth.

4. Half of all major American companies match __________ donations of directors.
(a) Stock.
(b) Worker.
(c) Charitable.
(d) Market.

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

Short Answer Questions

1. What is NOT one of the features that Buffett and Munger looked for in acquisition opportunities?

2. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.

3. Buffett started to buy _____ businesses at good prices instead of buying good businesses at fair prices.

4. The board was ultimately responsible for any _______'s performance in the companies they held.

5. The common stock par value was reduced to _________, according to the book.

(see the answer key)

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