When using the indirect method to determine operating cash flows, how is the purchase of equipment for cash shown on the Statement of Cash Flows?
A. operating activity
B. investing activity
C. financing activity
D. noncash investing and financing activity
E. not reported on the statement of cash flows
Answer: B
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Which of the following is NOT a basis for involuntary dissolution?
a. A proceeding initiated by the secretary of state, if it is established that the corporation failed to pay its franchise tax. b. The directors are deadlocked and the shareholders cannot break the deadlock. c. The shareholders dissent to a merger and are asserting their appraisal rights. d. None of these.
Kim's home is valued at $250,000. Kim has paid the mortgage¾she has 100 percent equity in the property. She wants to start a new business with Lloyd. To obtain funds, Kim refinances the loan through Metro Bank, borrowing $200,000 for fifteen years at an interest rate of 4.85 percent. Before the loan is completed, Metro provides Kim with all of the required disclosures. On the day of the loan, a fifteen-year Treasury bond is yielding 2.85 percent. Kim pays $7,500 in fees to the bank. Less than a month later, she sells her interest in the new business to Lloyd and wants to rescind the loan. Which federal law covers this loan¾TILA, HOEPA, HPML, or HAMP? Can Kim rescind the deal? Explain.
What will be an ideal response?
A study of 4,000 employees found three main areas affect employee motivation. These areas include all of the following except:
A. Interpersonal issues B. Job issues C. Organizational issues D. Leader issues
Johanna is single and self-employed as a technology consultant. She wants to set money aside for her retirement. What tax and financial issues should she consider?
What will be an ideal response?