Which of the following journal entries has an effect on cash provided by (used in) operating activities?

A. Payment of interest on long-term notes payable.
B. Sale of an investment.
C. Bad debts expense.
D. Depreciation expense.


Answer: A

Business

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Which of the following items appears on the corporate income statement before Income from Continuing Operations?

a. Extraordinary gain b. Loss from sale of a discontinued segment c. Income taxes expense d. Income from operations of a discontinued segment

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Novation changes the contractual duties of the substituted party

Indicate whether the statement is true or false

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Customer A generates $12,500 (on average) of annual sales for a supplier with a profit margin of 15%. Customer B generates $18,750 (on average) of annual sales for the supplier with a profit margin of 10%. Assume a 7% discount rate and that each customer has an expected lifetime of 5 years. Which customer has a greater customer lifetime value?

a. Customer A b. Customer B c. Customer A and B have roughly equivalent lifetime values d. Cannot be determined from the information given

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When preparing the industry analysis section of the business plan, using secondary sources is not appropriate. 

Answer the following statement true (T) or false (F)

Business