QUESTION 14 The cash purchase of goods for resale to customers is an a (an): O Investing activity o Operating activity O Financing activity Non-cash investing and financing activity. QUESTION 15 An advantage of the corporate form of business is that individuals can become stockholders by investing relatively small amounts so large amounts of capital can be raised. O it has limited life. O it is simple to establish O amounts distributed as dividends to shareholders are subject double taxation QUESTION 16 In which classified balance sheet section would the land be reported? Entity B, an electrical contractor, purchased vacant land several years ago which it is holding in hopes of price appreciation. The land is not being used in its operations. O Long-term investments O Current assets O Intangible assets O Property, plant, and equipment QUESTION 17 Entity F has current assets of $90,000 and current liabilities of $45,000. If the company receives a $5,000 payment from a customer on account, what will its current ratio be? (round to two places if necessary) O 1.90:1 0 2.11:1 0 2.13:1 O 2.00:1