An advantage of exchange-traded funds is they occasionally can be purchased at significant discounts to book value

Adjusting entries are needed to correctly measure the ________

A) ending balance in the Cash account B) net income (loss) on the balance sheet C) net income (loss) on the income statement D) beginning balance in the Cash account

Which of the following describes working capital?

A) Current assets minus merchandise inventory B) Current assets minus current liabilities C) Total debt minus stockholders' equity D) Cost of goods sold divided by average merchandise inventory