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1. In the context of working capital an accrual is not
a. an estimate of an obligation of the firm
b. effectively a short term loan from the unpaid supplier of services
c. an adjustment to the accrued depreciation account
d. a source of spontaneous financing
2. All but one of the following are associated with short-term debt?
a. Easily available to most companies.
b. It is usually the lowest cost financing.
c. It is a flexible form of financing.
d. It is usually used to finance long-term assets.
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If an astute trader finds an arbitrage, what is the net cash flow in one year?
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Ragan’s basis in the property for purposes of calculating gain would be:
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