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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 recapitalize into Class A and _____ non-voting shares to offer a lower trading price.
(a) D.
(b) E.
(c) B.
(d) C.

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

3. The question of an exchange of stock arose in 1983 during the merger of Berkshire and ____________.
(a) Wal-Mart.
(b) Blue Note.
(c) Blue Chip.
(d) Coca-Cola.

4. Buffett and Munger described the acquisition process as being akin to finding a ________.
(a) Gold mine.
(b) Spouse.
(c) Promised land.
(d) New toy.

5. Berkshire's board included a controlling ________, in which other board members could persuade others to make changes.
(a) Outsider.
(b) Competitor.
(c) Owner.
(d) Shareholder.

Short Answer Questions

1. A bond is _______ with regular payment of interest and repayment of principle.

2. What were the name of the bonds that Buffett seeks to promote through Berkshire?

3. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.

4. Buffett's criteria measured _________ expectations of the highest after-tax returns to maximize net worth in the long run.

5. The market was considered a business partner with incurable _______ problems, according to the book.

(see the answer key)

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