Preparation of the statement of cash flows does not involve:
A. Computing and reporting net cash provided or used by financing activities.
B. Computing the profit compared to the net increase or decrease in cash.
C. Computing and reporting net cash provided or used by operations.
D. Computing and reporting net cash provided or used by investing activities.
E. Computing the net increase or decrease in cash.
Answer: B
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Which of the following is not one of the forces that affects industry competition, according to Porter's model for industry analysis?
A. Threats of new entrants. B. Threats of substitute products and services. C. Bargaining power of buyers. D. Threats of government interference. E. Bargaining power of suppliers.
Which of the following is a commodity that is NOT transported by pipeline?
a. oil b. gas c. coal d. coffee slurry
Jim, an accountant, contracts to perform services for Kasey. Jim acts in good faith and conforms with generally accepted accounting principles, but makes a mistake in judgment. Jim is most likely
A. liable if Jim failed to discover a defalcation. B. liable if Jim failed to discover a fraud. C. liable if Jim failed to discover an impropriety. D. not liable.
The federal estate tax exemption is $5.34 million per person. Recently, lawmakers ruled that the exempted amount held by the first to die would be transferable to the surviving spouse
Therefore, a married couple can now avoid federal estate taxes with combined assets of up to $10.68 million even without good estate planning. Indicate whether this statement is true or false.