Question 42 1.5 pts Choose the correct answer below to indicate the appropriate classification for Budgeted Long-Term Fixed Assets in a Balance Sheet. Property, Plant & Equipment Intangible Asset Retained Earnings O Contra Long-Term Asset Not on the Balance Sheet Question 47 1.5 pts Which of the following CANNOT be completed without additional information when using a work-sheet? O Completing a Statement of Cash Flows Completing a Statement of Financial Position Completing a Statement of Net Income O Completing a Statement of Changes in Owners' Equity 1.5 pts Question 48 Corporation incurs a DECREASE in inventory. What effect will this entry have on the completion of the Statement of Cash Flows assuming the indirect method is used? Added to net income in the operating section Deducted from net income in the operating section Investing Section Financing Section Noncash investing and financing activity or not on the CFS 1.5 pts Question 49 Corporation sells a patent for $1,000,000. Where would this transaction appear on the Cash Flow Statement? Added to net income in the operating section. Deducted from net income in the operating section Cash receipts or payment n investing activities Cash receipts or payment in financing section Noncash investing or financing activities or not on the CFS