Question 32 (5 points) A corporation is a business that "incorporates"-it is owned by shareholders that have limited liability for the debt of the company but share in its profits (and losses). True False Question 33 (5 points) The statement of cash flows, or the cash flow statement (CFS), is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. True False Question 34 (5 points) The income statement differentiates between cash and non-cash receipts (sales in cash versus sales on credit) or the cash versus non-cash payments/disbursements (purchases in cash versus purchases on credit). True False Question 35 (5 points) At the breakeven point (BEP) all fixed costs can be paid from revenue but some variable costs of sales are not covered by revenue. True False