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7:24 Midterm Examination O 02:53:16 -/1 III $50,000 35,000 32 of 80 View Policies Current Attempt in Progress Revenues Cost of goods sold Operating expenses Beginning assets Beginning liabilities Ending assets Ending liabilities 5.500 350.000 245.000 450,000 255.000 The return on assets is closest to 21% 24% 3.75% 11.13% Save for Later Attempts: 0 of 1 used Sutomer Google Chrome 37 * FREE INSTALL AX Home Lumal myLaurent LUNET D2L 7:24 + Midterm Examination O 02:52:57 33 of 80 -/1 View Policies Current Attempt in Progress Which of the following expenses has no effect on the cash flow of a firm? salaries expense interest expense depreciation expense cost of goods sold Save for Later Attempts: 0 of 1 used Submit Answer AX Google Chrome 37 FREE INSTALL coll Home Lumal myLaurent LUNET D2L 7:24 + Midterm Examination O 02:52:53 34 of 80 -/ 15 View Policies Current Attempt in Progress Which of the following statements about accumulated depreciation is not true? It is a contra asset account. Olt records the portion or how much of the asset has been used up. It is reflected on the Statement of Financial Position O It helps determine how much an asset can be sold for. Save for Later Attempts: 0 of 1 used Submit Answer Google Chrome INSTALL 37 FREE AX colle Home Lumal Laurention LUNET D2L