Question 1 (1 point) Saved "Retained earnings" is: a) a corporate asset b) part of owners' equity c) neither a orb d) both a and b Question 2 (1 point) Saved "Variable expenses" are costs or expenses that vary directly with revenues. a) True b) False Question 3 (1 point) Saved When a new venture is in its development stage, its balance sheet reflects the acquisition of initial assets and the obtaining of seed financing. a) True b) False lon Question 4 (1 point) Saved Cash or other assets that are expected to be converted into cash in less than one year are known as current assets. a) True b) False Saved Question 5 (1 point) Net income, or profit, is the bottom line measure of what's left from the firm's net sales after operating expenses, financing costs, and taxes have been deducted. a) True b) False out o s fro Question 6 (1 point) Saved Net cash burn occurs when the sum of cash flows from operations and investing is positive. et Ca a) True be the b) False Page 2 of 9 Previous Page Next Page