Q12 answer the following true and false

A higher accounts receivable turnover ratio number is better than a lower accounts receivable turnover number. O True O False When a company uses a multi-step income statement, all revenues are presented first regardless of the source. O True O False Under the contract-based approach, revenue is recognized whenever a company's net position in a contract decreases. True O False a The quick ratio is a less stringent measure of liquidity than the current ratio. O True O False A positive cash flow from operating activities indicates that a company's financing activities are generating more cash than required for operations. O True O False