1. Which of the following transactions will not affect the quick ratio of a company?
a. Inventory sold on credit
b. Cash purchase of equipment
c. Payment for accounts payable
d. Accounts receivable collected
e. Bank loan repaid
2. The earnings of the S&L industry suffered as a result of maturity imbalances in the inflationary later 1970's and early 1980's. The development that created the problem was.
a. S&L's held too many short-term Treasury bills
b. There were sustained high interest rates in the late 1970's and early 1980's as a result of Federal Reserve monetary policy
c. The S&Ls were paying very low interest rates on NOW accounts
d. the S&Ls were earning high yields on consumer loans
e. none of the above