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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. ________ took fictional accounting actions that showed absurd accounting manipulations to let it undersell all competition to dominate the industry.
(a) Coca-Cola.
(b) GEICO.
(c) US Steel.
(d) Pepsi.

2. The market was considered a business partner with incurable _______ problems, according to the book.
(a) Investment.
(b) Emotional.
(c) Spiritual.
(d) Banking.

3. What was the name of Warren Buffett's partner in the company they shared?
(a) Charlie Munger.
(b) Steve Jobs.
(c) Lloyd Munger.
(d) Bill Gates.

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

5. The partners were also interested in firms that had extraordinary ________ talent exhibiting skillful executive achievement.
(a) Reports.
(b) Management.
(c) Jumps.
(d) Prices.

Short Answer Questions

1. Buffett and Munger do not check _________'s manic depressive daily price quotes to validate their investment.

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

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

4. What was coined as the term for the amount of undiscovered embezzlement?

5. Buffett and Munger continue to offer _______ for value trade in the acquisition process, as it seems fair to all parties.

(see the answer key)

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