On an income statement, revenue less cost of goods sold (COGS) equals:
A) net income or loss.
B) gross profit.
C) net income from operations.
D) operating expenses.
E) net profit.
Question 2 - The American economy is now characterized as a(n) _____ economy.
A) industrial
B) centralized
C) service
D) stagnant
E) bureaucratic
Question 3 - When Betty Tran prepared a personal income statement, she subtracted her expenses from her income. The remainder or residual value is called:
A) net asset total.
B) total assets.
C) total revenues.
D) retained earnings.
E) cash surplus.
Question 4 - Currently, approximately _____ US workers are employed in manufacturing jobs, compared to _____ back in 1979.
A) 5 million; 19 million
B) 19 million; 5 million
C) 12 million; 19 million
D) 19 million; 19 million
E) 12 million; 9 million
Question 5 - On the statement of cash flows, how would the payment of cash dividends to company shareholders be characterized?
A) Cash flows from operating activities
B) Cash flows from financing activities
C) Cash flows from investing activities
D) Long-term liability
E) Intangible asset
Question 6 - Part of the reason that employment in the US manufacturing sector has _____ is that productivity has _____.
A) decreased; decreased
B) decreased; increased
C) increased; decreased
D) increased; increased
E) decreased; stayed the same
Question 7 - When Alibaba went public and sold shares of the company on the New York Stock Exchange, it raised 25 billion. This was listed as __________ on Alibaba's statement of cash flows.
A) cash flows from investing activities
B) revenue
C) cash flows from operating activities
D) cash flows from financing activities
E) net increase in cash
Quick Reply
