23. Depreciation expense represents: a. the recording of the replacement value of your delivery van b. a cash expense for delivery services C. the cost associated with innovation and research & development d. a long term liability of the company e. a non-cash charge A key goal of 24. The accounting profession has adopted a set of generally accepted accounting principles (GAAP). these principles is to: a. create a fair distribution of corporate income among various stakeholders b. ensure that the firm's value is fairly assessed and that its taxes are fair but not excessive. c. provide external stakeholders with relevant & reliable information about a firm's financial position d. provide the company's managers with access to sensitive proprietary financial information while preventing competitors from obtaining this information. 25. Liquidity Ratios and Leverage Ratios attempt to answer/address the following questions: a. can the firm sell long term assets; what is the profitability level b. how much long term debt does the firm have; is the inventory a problem c. does the company have enough current assets to meet its current debts; risk measurements d. what are earnings per share this year; is the firm able to pay its employees 26. What is the purpose(s) of a business plan? a. It shows how your business will be built. b. It shows how you intend to make it successful. c. It shows how your business will be financed. d. It identifies your target audience. e. all of the above represent the purpose(s) of a business plan s who invest in start-up, entrepreneurial ventures with high growth potential in exchange for a. b. C. d. Venture capital firms; crowdfunding Angel investors; equity Crowd funders; new products SBA; loans 28. What is the purpose(s) of a business plan? a. It shows how your business will be built b. It shows how you intend to make it successful. C. It shows how your business will be financed. d. It identifies your target audience e. all of the above represent the purpose(s) of a business plan 29._are individuals who invest in start-up, entrepreneurial ventures with high growth potential in exchange for a. b. C. Venture capital firms; crowdfunding Angel investors; equity Crowd funders; new products d. SBA; loans