QUESTION 1 1 points Save Answer In accounting, emphasis is placed on determining net income in accordance with generally accepted accounting principles. In finance, the primary emphasis is also on net income because that is what investors use to value the firm. However, a secondary financial consideration is cash flow, because cash is needed to operate the business. True O False QUESTION 2 1 pointsSave Answer The interest and dividends paid by a corporation are considered to be deductible operating expenses, hence they decrease the firm's tax liability. O True False QUESTION 3 1 points Save Answer Assets other than cash are expected to produce cash over time, but the amount of cash they eventually produce could be higher or lower than the values at which these assets are carried on the books. True O False QUESTION 4 1 points Save Answer The primary reason the annual report is important in finance is that it is used by investors when they form expectations about the firm's future earnings and dividends, and the riskiness of those cash flows. True Faise