Interest expense on a 3-month, 3%, $20,000 note is calculated by multiplying $20,000 3% 3.

	True
	False

The trading of a corporation's shares on the secondary market has no impact on the corporation's current financial position.

	True
	False

The sale of land for cash would be classified as a cash receipt (source) in the Investing Activity area on the Statement of Cash Flows

	True
	False

Accounting provides financial comparisons of operating alternatives, projections of income from new sales campaigns, analyses of sales costs, and forecasts of cash needs for external users.

	True
	False