An agent that represents only 1 insurance company is known as

Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $7,000. The net book value of the asset was $28,900. Which of the following statements describes the cash effect of the transaction?

A) positive cash flow of $35,900 from financing activities B) negative cash flow of $21,900 for operating activities C) negative cash flow of $21,900 for financing activities D) positive cash flow of $21,900 from investing activities

If an employee is paid $455 per week and his/her primary duty is management of the organization, then the employee will be exempt from overtime provisions of the FLSA

Indicate whether the statement is true or false