True/False
1. The valuation basis of the Balance Sheet is principally current market value.___
2. ‘Retained Earnings’ reflects cumulative net income kept in the business.___
3. Current Liabilities are obligations due to be paid within a year of the Balance Sheet date.______
4. Current assets are Cash and all other assets expected to be converted to Cash within a year.___
5. Under full accrual accounting, revenues are recognized only when the customer pays Cash._____
6. “Working Capital” management deals with long term corporate financing issues.___.
8. Ending Cash per the Cash Flow Statement must equal Cash per the Balance Sheet.___
9. ‘Agency Theory’ deals with the relationship between corporate workers and management.___.
10.’Finance’ is the study of the acquisition and deployment of funds in the firm._____
11. Maximizing shareholder wealth means maximizing the long term stock price.___
12. Corporate ’Double Taxation’ means corp MUST pay BOTH Federal and State Income taxes.______