Which of the following is incorrect regarding the balance sheet?
a. Net worth is the difference between what the company owns and what the company owes.
b. Prepaid expenses, part of current assets, can be liquidated within a year.
c. Depreciation of current assets should be avoided to maintain asset value.
d. Net worth is the sum of owner's investments and the reinvested profits.
e. Goodwill is included mainly when the retailer purchases an existing business.
Question 2
In the statement: If we add 1.5 million of cable TV ads to our promotion strategy for this product line, we will increase the number of units sold by 10 percent next year, what is the independent variable?
a. Units sold
b. Percent change
c. Product line
d. Cable TV ad dollars
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