Initial public offerings (IPOs) are the first sale of a company's stock to the general public and are a major source of funds that fuel continued growth for many firms. True False Any company can have a bad year and decide to reduce or omit dividend payments to stockholders. True False An Income Statement is "snapshot" of an organization's financial position at a given moment in time. True False In accounting, which of the following would be classified as an asset? Select ALL that are correct. (There might be more than one that is correct.) cash long-term loans accounts receivable equity