Q: Net receivables reported by a company: Select one: a. Represent the cash sales made b. Are very informative as a stand-alone number c. Include gross receivables plus bad debts d. Has been reduced by a company's estimated bad debts Q: Companies with a durable competitive advantage do not: Select one: a. Have low depreciation expense b. Finance new assets with internal funds c. Sell for below book value, except in rare instances d. Need to continually upgrade plant and equipment Q: Companies with a durable competitive advantage: Select one: a. Have large amounts of debt b. Have a large amount of cash piling up with no borrowing, equity issues, or sales of assets c. Do not have a history of consistent earnings d. Do not have to be concerned with cash flows