An example of an operating activity is O repaying loan principal. payments of taxes owed to the government. paying dividends. O purchase of shares of other companies. Amounts owed to customers for advance payments until the related goods or services have been provided are called Accrued Liabilities Unearned Revenue Deferred Income Taxes O Accounts Payable A characteristic of an asset is none of the above. O an event that will happen in the future a resource controlled by an entity O a future economic outflow Licences, patents, trademarks, and copyrights are all examples of short-term investments O current assets O goodwill O intangible assets Under the accrual basis of accounting, expenses are O recorded when incurred. O recorded only when paid. O always paid in cash only relevant for the determination of net income