5. Which of the followin is true about Book Value: (a) Price that we pay at the time of the purchase. (b) Expenditure required to acquire the assets and make ready for use. (c) Market price of the assets. (d) Cost less accumulated depreciation. 6. Which of the following is true for depreciable cost? a. Book value less salvage value b. Book value less accumulated depreciation C. Cost less salvage value d. Cost less accumulated depreciation 7 Which of the following is not correct about the statement of cash flows? (a) It is a fourth basic financial statement. (b) It provides information about cash receipts and cash payments of an entity during a period. () It provides information about the operating, investing, and financing activities of the business. (d) It provides information about the operating profitability of the company