47. Equity includes

	a.	cash
	b.	investments
	c.	retained earnings
	d.	assets

50. Which of the following is a cash outflow?

	a.	a stock repurchase
	b.	a decrease in inventory
	c.	an increase in accounts payable
	d.	a stock dividend

51. A new issue of bonds is

1. a cash outflow

2. a cash inflow

3. a long-term asset

4. a long-term liability

	a.	1 and 3
	b.	1 and 4
	c.	2 and 3
	d.	2 and 4

52. The use of accelerated depreciation

	a.	initially increases the firm's profits
	b.	initially decreases the firm's taxes
	c.	discourages investment in plant and equipment
	d.	increases expenses and decreases cash flow

53. When an asset is depreciated,

	a.	its cost is allocated over a period of time
	b.	the firm's earnings and taxes are increased
	c.	the cash flow from an investment is reduced
	d.	the cost of the asset is increased to reflect appreciation in its value

54. No matter which method of depreciation is used,

	a.	the firm's earnings are unaffected
	b.	the cash flow from an investment is reduced
	c.	the maximum amount that may be depreciated is the cost of the investment
	d.	only shortterm assets may be depreciated