Question #$1$

What are discretionary accounts?

A$)$ Accounts that require management to deliberatley increase or decrease

B$)$ Accounts that increase automatically with sales

C$)$ Accounts that include current assets

D$)$ Accounts that appear only on an income statement

Question #$2$

Which process fits with the activities of capital budgeting and planning?

A$)$ Selecting cash flows for long lived projects

B$)$ Selecting cash flows for short lived projects

C$)$ Selecting long lived projects that will enhance firm value

D$)$ Selecting short lived projects that will enhance firm value