1. With regard to our focus on the importance of cash to a business, which of the following statements is most likely false?

	A.	The measurement of cash and cash flow is an efficient and effective way to keep score in a business.
	B.	Cash and cash flow levels can have a positive effect on an organization or individual in the reaching of their goals.
	C.	An adequate level of cash guarantees the organization will be free from any risk that it may face.
	D.	The lack of cash and cash flow can cause the death of an organization.

2. The Committee of Sponsoring Organizations of the Treadway Commission, or COSO, created an accounting framework that is to manage and control the risks that an organization faces. That framework focuses on three (3) dimensions that address the issues of internal controls. Which of the following sets of terms notes those three dimensions:

	A.	Financial, Managerial, and Tax Reporting
	B.	Quality, Safety, and Continuous Improvement.
	C.	Accounting, Finance, and Economics.
	D.	Operations, Compliance, and Financial Reporting.

3. From an accounting perspective, any event that affects the financial position (that is, the amount of assets and liabilities) or results of operations of an entity, that requires recording, is a common definition of which of these terms:

	A.	Transaction.
	B.	Exchange.
	C.	Duality principle.
	D.	Consumption.