(20 of 50) Cash flow is the change in cash during the year. True (21 of 50) Under what condition can a contingent liability be recorded in a journal entry? When the likelihood of an actual loss is remote. When the likelihood of a loss is reasonably possible. When the likelihood of a loss is probable. Never. (22 of 50) What is paid-in capital? Investments by the owners of a corporation Investments by the creditors of a corporation Undistributed profits All of the above (23 of 50) Which of the following is true regarding retained earnings? It is classified as a liability on the Balance Sheet. It does not appear on either the Balance Sheet or Income Statement. It represents undistributed profits. It represents investments by the owners of a corporation