A legal duty between two parties where one party must act in the interest of the other party is known as a(n) Fiduciary Venture capitalist Restricted capitalist Restricted investor Restricted stock is: a special type of stock that is not transferable from the current holder to others until specific conditions are satisfied. a special type of stock that can be converted into corporate bonds after a specific amount of time has elapsed. a special type of stock that is a result of offering an employee stock ownership plan. None of these answers is correct. Which financial statement reports a firm's assets, liabilities, and equity at a particular point in time? Balance Sheet Income Statement. Statement of Retained Earnings. Statement of Cash Flows. The board of directors are hired by the CEO are elected by shareholders have unlimited liability since they oversee the day-to-day operations of the firm are employed by the Securities Exchange Commission to ensure as rules and regulations have been met All of the following would be a result of changing to the MACRS method of depreciation except Higher depreciation expense Lower taxes in the early years of a project's life Lower taxable income in the early of a project's life All of the above. Is it possible for a firm to have positive net income and yet it has cash flow problems? No, this is impossible since net income increases the firm's cash. Yes, this can occur when a firm is growing very rapidly. Yes, this is possible if the firm window-decreased its financial statements. No, this is impossible since net income and cash are highly cor . All of the following are cash flows from investing. All of the following are cash flows from financing except a(n) Increase in accounts payable Issuing stock Stock Repurchases Paying dividends. Cash flows to pay the firm's stockholders and debt holders after the firm has made this necessary working capital inve fixed asset investments, and developed the necessary new products to sustain the firm's Operating cash flow Net operating working Free cash flow None of the above