Which is the best definition of an annuity?

a.

A level stream of cash flows for a fixed period of time.

b.

The interest rate expressed as if it were compounded once per year.

c.

An annuity for which the cash flows occur at the beginning of the period.

d.

The interest rate expressed in terms of the interest payment made each period. Also, quoted interest rate

e.

The interest rate charged per period multiplied by the number of periods per year

Which one of the following is found in the operating activity section of a statement of cash flows?

	a.	Dividends paid.
	b.	Decrease in long-term debt.
	c.	Increase in accounts payable.
	d.	Fixed asset acquisition.
	e.	Decrease in common stock.