The statement of cash flows reflects the revenues actually earned by the business, regardless of whether cash has been collected

a. True
b. False
Indicate whether the statement is true or false


False

Business

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Why is cynicism damaging to followers and their organizations?

What will be an ideal response?

Business

Extortion of private persons is commonly referred to as ________.

A. kick-backs B. obstruction of justice C. collusion D. blackmail

Business

?A firm with sales of $5,000 has the following balance sheet: ? Assets, Liabilities and Equity as of XX/XX/XX            Assets                               Liabilities and Equity     Accounts receivable   $1,300    Accounts payable   $1,200    Inventory                     1,600     Long?term debt        2,500    Plant                           1,700     Equity                         900                                     $4,600                                   $4,600 ? ? The firm earns 5 percent on sales and expects sales to rise to $5,500. The increase may require additional financing. Regression analysis is used to estimate accounts receivable,

inventory, and trade accounts (payables). These estimated equations are        accounts receivable = $300 + 0.2Sales        inventory = $400 + 0.3Sales        accounts payable = $200 + 0.3Sales ? Management expects to distribute 20% of earnings. a. Determine the new balance sheet entries for sales of $5,500. b. the firm need external financing to achieve sales of $5,500? c.  Construct the pro forma balance sheet for sales of $5,500. Any new financing should be obtained by issuing new long?term debt. Any excess funds should be held in cash. What will be an ideal response?

Business

The correct order of payment of claims from the debtor's estate would be

A. secured claims, priority claims, unsecured claims. B. secured claims, unsecured claims, priority claims. C. priority claims, secured claims, unsecured claims. D. priority claims, unsecured claims, secured claims.

Business