The change in owners' equity due to only revenue and expense transactions is explained by the:
A. Statement of cash flows.
B. Statement of financial position.
C. Income statement.
D. Tax return.
C
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Fred, age 60, has 3 years until he retires. He decides to surrender his whole life insurance policy and use the cash value to fund a single premium annuity. How many payments will he make to fund the annuity?
A) As many as he wishes B) 3 C) 7 D) 1
Which of the following is true of backward-looking metrics?
A) They tell a company where it stands with respect to current performance. B) They provide insights on future performance. C) They are applied at regular intervals during an operating period. D) They include company metrics such as late deliveries and late payments. E) They include marketing metrics such as customer awareness and customer satisfaction.