The term laissez-faire means that: the government should regulate industries key industries should be owned by the government there should be limited intervention by upper level managers in business activity the government should leave business activities to function according to the laws of economics If a firm's inventory turnover has decreased, what might be a cause? high debt levels in the firm obsolete products fast-selling inventory lower selling prices In the statement of cash flows, which of the following activities shows the amount of cash that flows into a company from the additional long term bank loan the company obtained? Operating activities Financing activities Investing activities Market activities None of the above Even though nonprofit organizations are not in business for a financial gain, they are still required by law to earn positive profits. True False The balance sheet of Greer's Inc. shows its total assets as $200,000 and its stockholder's equity as $120,000 respectively. This means that Greer's: Current assets are $80,000. Long term debt is $320,000. net income for the current year is $170,000. Total liabilities are $80,000. Which of the following is true for a sole proprietor? you have to share control of your business with partners you must file Articles of Incorporation to legally from the business you have limited liability any profits earned are distributed to the creditors none of the above are true