17. Which of the following is an example of an operating activity? a. Obtaining capital from owners b. Purchasing equipment c. Selling land d. Selling goods and services to customers 18. The group of users of accounting information charged with achieving the goals of the business is its a. creditors. b. auditors. c. investors. d. management. The normal operating cycle helps define which of the following balance sheet sections? a. Intangible assets b. Current assets c. Owner's equity d. Property, plant, and equipment 19. Gross margin equals the difference between net sales and a. cost of goods sold plus operating expenses. b. operating expenses. c. cost of goods sold. d. net income. 20