1. Which one section of the Cashflow Statement would the following transaction impact? Cash paid for expenses (like utility bills or insurance).

   	a.	Operating
   	b.	Investing
   	c.	Financing

2. Which one section of the Cashflow Statement would the following transaction impact? Cash received from sale / issuance of new capital stock.

   	a.	Operating
   	b.	Investing
   	c.	Financing

3. Smokey Ham, Inc. uses $10,000 in cash to pay $10,000 on Accounts Payable. This would result in a:

   	a.	$10,000 credit to Cash and a $10,000 credit to Accounts Payable
   	b.	$10,000 debit to Cash and a $10,000 debit to Accounts Payable
   	c.	$10,000 debit to Cash and a $10,000 credit to Accounts Payable
   	d.	$10,000 credit to Cash and a $10,000 debit to Accounts Payable

4. Indicate which financial statement(s) "Cost of Goods Sold" would appear on: (may be more than one)

   	a.	Retained Earnings Statement
   	b.	Balance Sheet - Liability
   	c.	Income Statement
   	d.	Balance Sheet - Shareholder Equity Section