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0. What are operating expenses?
0. Explain the difference between a single-step income statement and a multiple-step income statement. Which is normally favored?
0. What is the purpose of the balance sheet?
0. How do current liabilities and long-term liabilities differ?
0. What information is provided by the statement of owner’s equity?
0. How can managers use financial statements to learn about a company’s operating efficiency?
0. What are the best liquidity ratios to use in analyzing any company?
0. How do you perform vertical and horizontal ratio analysis?
0. What are the limitations of using financial ratios? 
0. What are the best ways to perform financial analysis to obtain maximum results and understanding?
Answer 8 of the 10 questions in 100+ words.

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