QUESTION 19 A cash-flow statement is also known as a(n) statement. e a asset-and-liability e b. income and expense o c taxable income e d net worth QUESTION 20 Which of the following is a characteristic of a cash-flow statement? a. It covers a period of time, usually one month or one year b The statement includes three sections: income, expenses, and surplus (or deficit) c All of these d It shows if you were able to live within your income for the period covered. QUESTION 21 Dave Scott's tota income is $$2,000, but his taxable income is only $39,625. Therefore, his tax liability is $5,763 Dave's average tax rate is approximatelypercent. b. 15.0 d 250