Question 8 Percentage analyses, ratios, turnovers, and other measures of financial position and operating results are e a substitute for sound judgment useful analytical measures enough information for analysis, industry information is not needed unnecessary for analysis if industry information is available Question 9 A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under investing activities financing activities O noncash investing and financing activities operating activities Question 10 Treasury stock shares are shares held by the U.S. Treasury Department issued shares that have been reacquired by a corporation part of the total outstanding shares but not part of the total issued shares of a corporation unissued shares that are held by the treasurer of the corporation Question 11 Which of the following groups of accounts have a normal debit balance? revenues, liabilities assets, liabilities liabilities, expenses assets, expenses