When analyzing the changes on a spreadsheet used to prepare a statement of cash flows, the cash flows from operating activities generally are affected by:
A. Noncurrent liability and equity accounts.
B. Net income, current assets, and current liabilities.
C. Noncurrent assets.
D. Both noncurrent assets and noncurrent liabilities.
E. Equity accounts only.
Answer: B
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Which among the following is the best example of a no-need objection?
A. "I have to think this over before I buy." B. "I plan to wait until fall before I buy a new car." C. "I am pleased with the performance of the car I have now." D. "I want to buy from a more established car dealer." E. "I can't afford a new car now."
Advocates of the ________ school of social responsibility for business argue that business entities have a responsibility to act in a manner that benefits all of society
A) regulation B) professional obligation C) managerial D) institutional
In January, Alex promised to pay Y-K Inc $5,000 if it would refrain from filing suit against him on a breach of contract action. Y-K agreed and accepted a $5,000 check from Alex. Which of the following statements is correct?
a. Y-K's promise to refrain from suing Alex was not supported by legal consideration. b. Y-K's promise to refrain from suing Alex was supported by legal consideration and is enforceable. c. This is an accord and satisfaction, and Y-K cannot sue. d. The courts would apply promissory estoppel in this situation.
The clause prohibiting the Federal Government from taxing exports is:
a. the Commerce Clause. b. the Import-Export Clause. c. the International Trade Clause. d. the Export Taxation Clause.