Which one of the following is not one of the three business activities as shown in statement of cash flows?
A) Financing
B) Operating
C) Investing
D) Measuring
D
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Which of the following is true of rescission?
A) It is a court order compelling a party to perform in such a way as to meet the terms of the contract. B) It is sought by plaintiffs who wish to be in the position they were in before entering into the contract. C) It refers to the correction of terms in an agreement so that they reflect the true understanding of the parties. D) It is a temporary or permanent order of the court preventing a party to a contract from doing something.
The general rule in allocating benefits and burdens between income beneficiaries and remaindermen is that ordinary or current receipts and expenses are chargeable to the remainderman, whereas extraordinary receipts and expense are allocated to the income beneficiary. (Creation of Trusts)
Indicate whether the statement is true or false
Interest rate swaps allow a firm to exchange fixed for floating-rate payments, but a swap cannot reduce actual net interest expenses.
Answer the following statement true (T) or false (F)
A badly managed small business is more liquid than a well-managed company.
Answer the following statement true (T) or false (F)