QUESTION 31 According to SFAC No. 6, liabilities are a. Payables and receivables that are paid in cash or deferred until next year b. Obligations that have been incurred and the amount and timing are measurable c. Contingencies that are always paid in cash d. Probable future economic benefits QUESTION 32 Stockholders equity: a. Represents the ownership of a company b. Is the equivalent of net assets c. Is also known as the book value of a company d. Is analyzed in detail in the statement of stockholders equity e. All of the above QUESTION 33 Convertible bonds are examples of: a. Treasury stock b. Non-recurring items c. Assets d. Securities that have characteristics of both debt and equity QUESTION 34 On the statement of cash flows, depreciation and amortization are: a. Part of the statement of stockholders equity, but not part of the statement of cash flows b. Part of cash from operations c. Part of cash from investing activities d. Part of cash from financing activities