$1.$ Which industry average is computed as the average of the individual ratios of all firms within an industry?

Multiple Choice

Value$-$weighted industry average

Simple$-$weighted industry average

Equal$-$weighted industry average

Dollar$-$weighted industry average

$2.$ The formatting of the direct method of reporting cash flows from operating activities on the statement of cash flows is most similar to which of the following:

Multiple Choice

The accrual method

The income statement

Investing cash flows

The balance sheet

$3.$ Which of the following adjustments to earnings shown in a statement of cash flows allows more reporting discretion?

Multiple Choice

Change in depreciation expense

Changes in A$/$R

Change in inventory

Change in A$/$P