1)Available-for-sale securities are reported on the balance sheet

A) In the Investments classification at their historic cost

B) In the Current Assets classification at their market value

C) In the Investments classification at their market value

D) In the Stockholders Equity section at their market value.

2) Using the indirect method (statement of cash flows), a decrease in inventory would:

A) be subtracted from net income

B) be added to net income

C) have no adjustment made to net income

D) be added to the investing section of the statement of cash flows

3) The more formal name for a balance sheet is:

A) statement of net worth

B) statement of financial position

C) statement of stockholders' equity

D) statement of financial operations