The income statement indicates a company's success or failure in deriving a profit from its operations, it also reflects the inflow and outflow of cash from operating activities.
a. true
b. false
Answer: b. false
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Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $40, $30, $20, and $10 respectively. The expected value is:
a. $22 b. $24 c. $26 d. $28
While working under uncertain conditions, it is better to
a. Maximize total profits b. Minimize error costs c. Maximize error costs d. Minimize profits
When a Canadian citizen enjoys military protection in Canada without contributing to the cost of Canada's defense budget, then
A. this citizen receives no benefits if Canada is attacked. B. this Canadian citizen is a free rider. C. Canada is a free rider. D. Canada's defense budget will run out of funds.
The Glass-Steagall Act of 1933:
A. required all state banks to get federal charters. B. required commercial banks to sell off their investment banking operations. C. eliminated the FDIC. D. required federally chartered banks to meet the branching restrictions of the states.