It is easier to evaluate a firm using its financial statements when the firm: is global in nature. tends to have one-time events such as asset sales and property acquisitions. is a conglomerate. has a different fiscal year than other firms in its industry. uses the same accounting procedures as other firms in its industry. Which one of these is a non-cash item? current taxes depreciation dividends selling expenses interest expense Which one of these is a correct definition? Long-term debt is defined as a residual claim on a firms assets. Current assets are assets with short lives, such as inventory. Current liabilities are debts that must be repaid in 18 months or less. Net working capital equals current assets plus current liabilities. Tangible assets are fixed assets such as patents Which one of these accounts is included in net working capital? common stock inventory long-term debt copyright manufacturing equipment Which one of the following accounts is included in stockholders' equity? accumulated retained earnings intangible assets deferred taxes long-term debt plant and equipment