1) Is carrying value ever the same as market value?

2) What major advantage does a company that has positive free cash flow have over a company that has negative free cash flow?

1) Which statement is more useful - the income statement or the statement of cash flows?

2) How would you respond to someone who says that the most important item on the statement of cash flows is the change in the cash balance for the year?

3) If a company has positive earnings, can cash flow from operating activities ever be negative?

1) How are past performance and industry norms useful in evaluating a company's performance? What are their limitations?

2) What is one way a company can improve its earnings per share without improving its earnings or net income?

3) Why is it essential that management compensation, including bonuses, be linked to financial goals and strategies that achieve shareholder value?