Which one of these is an asset?

Prepaid expenses

Accrued expenses

Owner's equity

Notes payable

Which one of these is a revenue account?

Income taxes

Cost of goods sold

Service revenue

Deferred revenue

Which of the following management moves must a firm undertake in order to manage cash flow optimally?

Extend credit terms to customers to encourage sales

Ramp up inventory purchases in order to make more goods available to customers

Take excess cash balances and pay off accounts payable and debt before it becomes due

Speed up collections of receivables

Which of the following activities is part of the cash from financing activities section of a cash flow statement?

Obtaining debt financing

Selling an office building

Building a new factory facility

Extending credit to customer