1)True or False: Accounts receivable capture sales and accounts payable capture COGS

2)True or False: Per the flow of the Income Statement, we should deduct tax expenses and then interest expenses in order to obtain net income, which is often referred to as the "bottom line."

3)True or False: Depreciation is added to earnings on the statement of cash flows because it was included in COGS on the Income Statemet

4)True or False:EBIT stands for " earnings before income taxes"

5)The Financial statement summarizing a firm's profitability over a period of time is the:

a)balance sheet b) income statement c)statement of cash flows d)none of the listed