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