The current period statement of cash flows includes the following: Cash balance at the beginning of the period $310,000 Net cash flow from operating activities 185,000 Net cash flow used for investing activities 43,000 Net cash flow used for financing activities 97,000 The cash balance at the end of the period isa. $45,000 b. $635,000 c. $355,000 d. $125,000
c
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To make the information easier to remember and create coherence, main points should be
A) presented as phrases B) stated in parallel form C) followed with question marks D) more than ?ve in number
Match each term with the correct statement below.
a. income tax b. excise tax c. Chapter 7 bankruptcy d. Chapter 11 bankruptcy e. negligence torts f. intentional torts g. property tax h. sales tax 1. What is the type of tax through which most of the states raise most of their revenues? 2. What is the type of tax through which most local governments raise most of their revenue? 3. What is the type of bankruptcy that allows businesses to reorganize while they enjoy protection from creditors? 4. What is a tax on the manufacture or sale of a domestic product? 5. What is the term for the injury of one party caused by the carelessness of another party?
________ is a major disadvantage of the corporate form of business
A) Double taxation B) Unlimited liability C) Lack of ability to raise capital D) Transfer of ownership
An income statement contains all of the following EXCEPT
A) revenues. B) assets. C) losses. D) gains. E) expenses.