Empire Company uses the indirect method to prepare its statement of cash flows. The following information has been gathered for the current period:
Solely on the basis of the above information, Empire's net cash flow from operating activities is:
A. $338,000.
B. $428,000.
C. $343,000.
D. $358,000.
D
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Which of the following is true of misrepresentation of a material fact?
A) It can occur only by the words of the wrongdoer. B) A misrepresentation is actionable as fraud only if it is the sole factor in inducing the innocent party to enter into the contract. C) It is actionable as fraud if the misrepresentation is of a past or existing material fact. D) Predictions about the future are considered basis for fraud.
If the price increases, but fixed and variable costs do not change, the break-even point:
A) decreases. B) increases. C) remains the same. D) may increase or decrease, depending on sales.