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Answer the following statement true (T) or false (F)
True
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The cash surrender value of the insurance policy on the corporation's president would be presented on the balance sheet as
A) cash. B) marketable securities. C) long-term investment. D) prepaid expense.
The board of directors carries out the day-to-day operations of the business
Indicate whether the statement is true or false
Assuming revenues are received in cash and expenses, except for depreciation, are paid in cash, net cash flows for a period are equal to
a. net income minus depreciation expense. b. net income. c. net income plus depreciation expense. d. net income plus income tax expense.
The benefit sacrificed when one alternative is chosen over another is called opportunity cost
Indicate whether the statement is true or false