(13) Temporary earnings are best characterized as: a. Earnings that do not have corresponding cash flows. b. Earnings from non-operating activities. c. Earnings that arise from events that are not likely to recur in the foreseeable future. d. Earnings that do not conform to accounting standards. (14) When a company purchases a security that is considered as a cash equivalent, such a cash outflow of purchase is: a. Not reported on a statement of cash flows. b. Reported as an operating activity. c. Reported as an investing activity. d. Reported as a financing activity. (15) Companies recognize revenue only when: a. a contract is reasonably likely to exist. b. a performance obligation is designated in a written contract. c. a written contract is in place and payment is variable. d. control over goods or services has been transferred from the seller to the customer