1. If your company has $500 in receivables at the start of the month and you collect $100 in cash during the month and make $100 worth of new credit sales, what is your accounts receivable balance at the end of the month?

Group of answer choices

$300

$125

$500

$700

2. What influence does a $100 credit sale have on the financial statements? (Select all that apply.)

Group of answer choices

a decrease in sales of $100 on the Income Statement

an increase of $100 in accounts receivable on the Balance Sheet

a decrease of $100 in accounts receivable on the Balance Sheet

an increase in sales of $100 on the Income Statement

3. How does Warren Buffett evaluate a business for investment? (Select all that apply.)

Group of answer choices

asking the business if cash is king

taking a short- versus long-term perspective

assessing owners earnings

understanding the operations and products of the business

4. Why is profit not equal to cash? (Select all that apply.)

Group of answer choices

Inventory is cash but not profit.

Capital expenditures dont count against profit.

Revenue is booked at sales.

Expenses are matched to revenue.

5. There are both inflows and outflows of cash. Which of the following are the categories of cash flow assessed by an organization? (Select all that apply.)Group of answer choices:

cash from or used in sales activities

cash from or used in financing activities

cash from or used in operating activities

cash from or used in investment activities