1. Which statement summarizes changes to parts of the balance sheet?

• Income Statement
• Statement of Shareholders' Equity
• Cash Flow Statement
• All of the above

1. A company has more cash today when:

• Profit increases
• Customers pay their bills sooner
• Accounts receivable increases
• Retained earnings increases

1. All of these are included in operating expenses except:

• Advertising costs
• Administrative salaries
• Expensed research and development costs
• Delivery of raw materials

1. Which of the following is not part of working capital?

• Accounts receivable
• Property, plant and equipment
• All of the above are part of working capital
• Inventory