38 Current liabilities include a stock b bonds c accounts receivable d accrued interest payable 39 Liabilities equal a assets b equity c equity minus assets d assets minus equity 40 Accountants suggest that assets a should be valued at market b should be valued at cost c should be valued at the lower of market or cost d should be valued at the higher of market or cost 41 Which of the following is a cash inflow a an increase in accounts receivable b a decrease in inventory c distributing cash dividends d a decrease in longterm debt 42 Which of the following is a cash outflow a a new issue of bonds b a decrease in accounts receivable c an increase in plant d an increase in accounts payable 43 Current assets include a plant b inventory c equipment d additional paidin capital (capital surplus) 45 Operating income does not consider a depreciation b cost of goods sold c taxes paid d salaries 46 Assets equal a liabilities b equity c liabilities plus equity d liabilities minus equity

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Question: 38. Current liabilities include a. stock b. bonds c. accounts receivable d. accrued interest payable 39. Liabilities equal a. assets b. equity c. equity minus

38. Current liabilities include

	a.	stock
	b.	bonds
	c.	accounts receivable
	d.	accrued interest payable

39. Liabilities equal

	a.	assets
	b.	equity
	c.	equity minus assets
	d.	assets minus equity

40. Accountants suggest that assets

	a.	should be valued at market
	b.	should be valued at cost
	c.	should be valued at the lower of market or cost
	d.	should be valued at the higher of market or cost

41. Which of the following is a cash inflow?

	a.	an increase in accounts receivable
	b.	a decrease in inventory
	c.	distributing cash dividends
	d.	a decrease in longterm debt

42. Which of the following is a cash outflow?

	a.	a new issue of bonds
	b.	a decrease in accounts receivable
	c.	an increase in plant
	d.	an increase in accounts payable

43. Current assets include

	a.	plant
	b.	inventory
	c.	equipment
	d.	additional paidin capital (capital surplus)

45. Operating income does not consider

	a.	depreciation
	b.	cost of goods sold
	c.	taxes paid
	d.	salaries

46. Assets equal

	a.	liabilities
	b.	equity
	c.	liabilities plus equity
	d.	liabilities minus equity

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