Use this information to answer the following question. Northbrook Corporation is preparing a statement of cash flows. The following transactions occurred during the year: 1 . Sold machinery for $9,000 cash. 2 . Purchased a building for $80,000 cash. 3 . Issued $70,000 worth of stock to acquire an airplane. 4 . Converted long-term bonds by issuing $100,000 worth of stock. 5 . Declared and paid a
$10,000 cash dividend. Transaction 5 would be found on the statement of cash flows in the
a. noncash investing and financing transactions section.
b. cash flows from financing activities section.
c. cash flows from operating activities section.
d. cash flows from investing activities section.
B
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Which of the following statements is not true?
a. A qualified opinion or an adverse opinion may bring into question the reliability of the financial statements. b. A disclaimer of opinion indicates that one should not look to the auditor's report as an indication of the reliability of the statements. c. In some cases, outside accountants are associated with financial statements when they have performed less than an audit. d. A review is substantially less in scope than an examination in accordance with generally accepted auditing statements. e. The accountant's report expresses an opinion on reviewed financial statements.
Which of the following is NOT one of the functions performed by global freight forwarders?
a. obtaining rate quotes b. chartering and booking space on carriers c. ensuring products are packaged properly d. preparing all the necessary documentation
Congress has already enacted future changes in the Social Security system that will change all but one of the following. Which of the following is not presently scheduled to change?
A) Normal retirement age B) Early retirement age C) Reduction in benefits at the earliest retirement age D) Increase in benefits for delayed retirement
The test for infringement of a trade mark by the offending mark is:
A) The offending mark is identical to the existing trade mark. B) The offending mark is so similar as to cause confusion in the mind of the public as to the source of goods. C) The offending mark has caused actual confusion as to the owner or supplier of the goods. D) The Registrar of Trade-marks has received a complaint concerning the offending mark from the public. E) The offending mark is offensive to the moral rights of the trade mark owner.