GBS151 - Lesson 5 Quiz| GBS 151 Lesson 5 Quiz; Complete Questions and Answers Updated 2025/26.

GBS151 - Lesson 5 Quiz

Question 1
Employees who come forth with incriminating information are protected in the Sarbanes Oxley (SOX) by w
Answer Whistleblower protections
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 2
The acid-test (quick) ratio is different from the current ratio in that it:
Answer emphasizes assets that are quickly and reliably turned into cash.
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 3
This legislative bill contains 11 sections including more severe penalties for fraudulent financial reporting,
Answer Sarbanes Oxley (SOX).
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 4
The formula for calculating the break-even point is:
Answer fixed costs divided by the contribution margin per unit.

Comments Correct!!

, Max Score: 1
Actual Score: 1



Question 5
The American Accounting Association refers to accounting as the process of identifying, measuring, and co
to as:
Answer The Language of Business
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 6
When a business owner is asked how the business is doing and she replies, “We are breaking even” what do
Answer The revenue earned and costs incurred for a period are equal.
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 7
One of the reasons that businesses use accounting is it:
Answer supplies information that permits informed judgements and decisions
Correct!!
Comments
Max Score: 1
Actual Score: 1



Question 8
In a manufacturing operation a variable cost necessary to produce the finished product includes: