QUESTION 23

1. Entity H recently borrowed several million dollars from a group of banks. To find out the amount of cash received, in which section of the statement of cash flows might you look?

   		financing activities
   		operating activities
   		investing activities
   		stockholders activities

3 points

QUESTION 24

1. The declaration of a cash dividend to be paid at a future date

   		has no effect on liabilities.
   		decreases stockholders equity
   		decreases assets
   		reduces net income

3 points

QUESTION 25

1. Here are some items that appear on an income statement. Operating expenses 650 Income tax expense 475 Net other (other revenues and gains netted against other expenses and losses) 300

   If the gross profit was $4,000, how much is net income on a multi-step income statement?

   		$3,875
   		$3,175
   		$3,350
   		$3,650

URGENT