A noncash item refers to which of the following?

Select one:

a. Accrued expenses

b. Inventory items purchased using credit

c. The ownership of intangible assets such as patents

d. Expenses which do not directly affect cash flow

e. Sales which are made using store credit

Current assets include which of the following? I. Patent II. Inventory III. Accounts Payable IV. Cash

Select one:

a. I and III only

b. II and IV only

c. I, II, and IV only

d. I, II, and III only

e. II, III, and IV only

If a company takes on a higher degree of leverage, then

Select one:

a. There is a higher probability that the firm will encounter financial distress

b. The company incurs a lower amount of debt

c. There is less debt the company has per dollar of total assets

d. The higher the number of outstanding shares of stock

e. The lower the accounts payable balance