In determining free cash flows, how is the change in net working capital calculated?

• A.Current Assets (previous year) - Current Assets (year projected)
• B.Current Assets minus Current Liabilities (year projected) - Current Assets minus Current Liabilities (previous year)
• C.Receivables minus Payables (year projected) - Receivables minus Payables (previous year)
• D.Ending balance of cash (previous year) - Ending balance of cash (year projected)

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The graph below reflects which of the following situations in the market for apples?

• A.A new disease kills apple trees.
• B.There is a shortage of apples.
• C.New equipment decreases the costs of harvesting apples.
• D.The government introduces a tax on oranges.

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A company reported the following information for 2013:

During 2013, the company purchased new inventory of $160,000. What amount should the company report as cost of goods sold on its 2013 income statement?

• A.$160,000
• B.$100,000
• C.$220,000
• D.$60,000

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A shop owner wants to determine the effect of a new marketing strategy on the number of customers visiting the shop. What information should the shop owner consider when deciding whether to conduct a one-sided or two-sided hypothesis testing?

• A.The objective of the hypothesis test
• B.The significance level
• C.The calculated one-sided and two-sided p-values
• D.Analysis of the actual samples collected

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Which of the following formulas is used to calculate operating income on the income statement of a manufacturing company?

• A.Gross profit - operating expenses
• B.Revenue- operating expense - interest expense
• C.Sales or revenue - operating expenses
• D.Net income + ending balance of cash

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