17.When computing the net cash provided by operating activities under the indirect method on the statement of cash flows, an increase in prepaid expenses would be added to net income. True or False

18.Select the correct statement below as it relates to Cash sales vs Credit sales. Multiple Choice Cash sales require a credit to cash and a debit to Sales. Cash sales are paid at the time the sale is generated. Credit sales are amounts owed to Suppliers. Credit sales require a journal entry to accounts payable by the Seller in order to credit the Customer's account.

19.The usual starting point for a master budget is: Multiple Choice the direct materials purchase budget. the budgeted income statement. the production budget. the sales forecast or sales budget.