This document contains a quiz on business topics like forms of business organization, accounting, and financial ratios. It includes 8 multiple choice questions covering topics like partnerships, the Sarbanes-Oxley Act, accrual accounting, cash flow statements, asset utilization ratios, and profit margins. It also provides a case study on problems at JetBlue airlines and prompts the reader to analyze whether the issues were due to management or technical problems, and to provide a 200-300 word response with their perspective.

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This archive file of FIN 200 CheckPoint Week Two Quiz
consists of:
1) The partnership form of an organization
A. has unlimited life.
B. avoids the double taxation of earnings and dividends
found in the corporate form of organization.
C. usually provides limited liability to the partners.
D. simplifies decision making.
2) The Sarbanes-Oxley Act was passed in an effort to
A. guarantee outside auditors can control corporate
accounting practices.
C. ensure that partnerships divide profits among partners in a
fair manner.
D. control corrupt corporate behavior.
3) The primary disadvantage of accrual accounting is that
A. it does not recognize accounts receivable.
B. it does not match revenues and expenses in the period in
which they are incurred.
D. it does not adequately show the actual cash flow position
of the firm.
4) A firm's purchase of plant and equipment would be
considered a
A. source of cash for investment activities.
B. use of cash for financing activities.
D. use of cash for investment activities.
5) Which of the following is not an asset utilization ratio?

2. B. Inventory turnover
C. Return on assets
D. Average collection period
6) Asset utilization ratios
A. are most important to stockholders.
B. relate balance sheet assets to income statement sales.
C. measure how much cash is available for reinvestment into
current assets.
D. measures the firm's ability to generate a profit on sales.
7) Refer to the figure above. The firm's fixed asset turnover
ratio is
B. 2.0x.
C. 1.6x.
D. 1.3x.
8) The Bubba Corp. had earnings before taxes of $200,000
and sales of $2,000,000. If it is in the 50% tax bracket its
after-tax profit margin is:
A. 20%
B. 5%
C. 12%
D. 25%
Business - General Business
Read the Closing Case section of Ch. 8, Meltdown at JetBlue,
in the text.
Select whether you believe the problems was with the
management issues or the technical issues.
Develop and Write your own position statement between
200 to 300 words defending why you think the problem was
NOT the one you selected.
Write a 200-word paragraph summarizing your thoughts on

3. the issues that contributed to the service shutdown. What
would you have done differently?
Format your paper consistant with APA Guidelines
Rubric
Write a position statement on who the fault was by: Position
statement is clear, aligns with readings and is inbetween 200-
300 words:
Total: 12points
Discus what they should have done differently and how the
non fault group could have helped. 200-300 words
Total: 12points
At least one reference is used and is cited in a Reference list:
Total: 3 points
Writing is in an academic form with proper APA type
organization and formatting. Grammar has little to no errors:
Total: 3 points
Try studying for exams with your friends. Studying alone can
be beneficial, but there is strength in numbers, especially
when others need to learn the same material as you. Try
setting up a schedule and picking a place to meet that works
for everyone. Do this regularly can help everyone involved do
well on their exams....
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