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Which of the following financial statements is divided into
major categories of operating, investing, and financing
activities?
The statement of cash flows.
The income statement.
The balance sheet.
The retained earnings statement.
Question 4
Ending retained earnings for a period is equal to beginning
Retained earnings + Net income – Dividends.
Retained earnings – Net income + Dividends
Retained earnings – Net income – Dividends.
Retained earnings + Net income + Dividends.
Question 5
Which of the following is not an advantage of the corporate
form of business organization?
No personal liability
Easy to raise funds
Easy to transfer ownership
Favorable tax treatment
Question 6