1.Alexis decides to check with his accountant how much money his company owes to the raw materials supplier. To determine that, Alexis needs to ask his accountant to provide him with the company's balance sheet.

True

False

2. Owners' equity increases when owners make investments in a business or when the business generates profits that are retained inside the business.

True

False

3. In a statement of cash flows, cash from _____ show the amount of cash that flows into a company from the sale of goods and services.

	a.	investing activities
	b.	auxilliary activities
	c.	operating activities
	d.	financing activities

4. Revenue is a decrease in the amount of cash and other assets that a firm earns from the sale of goods.

True

False