8. Which of the following is not a primary source of raising money or wing is not a primary source of raising money or capital for the firm? A. Assets B. Common stock C. Preferred stock D. Bonds 9. The major limitation of financial statements are A. their complexity. B. their lack of comparability. C. their use of historical cost accounting. D. their lack of detail. 10. The statement of cash flows does not include which of the following sections? A. Cash flows from operating activities B. Cash flows from sales activities C. Cash flows from investing activities D. Cash flows from financing activities 11. Ratio analysis can be useful for A. historical trend analysis within a firm. B. comparison of ratios within a single industry. C. measuring the effects of debt or equity financing. D. All of the options are true. 12. In examining the liquidity ratios, the primary emphasis is the firm's A. ability to effectively employ its resources. B. overall debt position. C. ability to pay short-term obligations on time. D. ability to earn an adequate return or profits. 13. An increasing average receivables collection period indicates A. the firm is generating more income. B. accounts receivable are going down. C. the company is becoming more efficient in its collection policy. D. the company is becoming less efficient in its collection policy 14. In using a systems approach to financial planning, it is necessary to develop a A. pro forma income statement. B. cash budget. C. production plan. D. All of the options are true