According to the clientele effect, dividend policy matters even if capital markets are perfect because

The formula used to calculate the operating income is ________

A) operating income = sales revenues + cost of goods B) operating income = sales revenues - cost of goods - SGA expenses - other operating expenses C) operating income = cost of goods + SGA expenses + other operating expenses D) operating income = sales revenues - SGA expanses E) operating income = sales revenues + cost of goods + SGA expenses + other operating expenses

The primary focus of a swim lane process map is to depict flows of objects, information, and money

Indicate whether the statement is true or false.