As a warm-up, here's a question that won't affect your score. We recommend you take this test in a quiet place free from distractions. The timer shows the time remaining for each question. The assessment will begin when you hit "Continue."Generally Accepted Accounting Principles (GAAP) are a) commonly agreed-upon professional accounting standards in the United States b) legally binding rules created by the Internal Revenue Service c) standards required only for large companies with over $100M in revenue

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.