Which of the Following Is an Accurate Statement

question 5

Multiple Choice

Which of the following is an accurate statement?

• A) Skills can be learned, whereas characteristics cannot.
• B) Skills can be learned, whereas characteristics develop over time.
• C) Skills develop over time automatically, while characteristics need effort.
• D) Skills and characteristics are both pre-set intrinsic qualities, which may develop over time with concentrated effort.

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Definitions:

Inventories

Quantities of goods that are held by a company for the purpose of resale or production.

Indirect Method

A way of preparing the cash flow statement where net income is adjusted for non-cash transactions and changes in working capital to arrive at operating cash flow.

Accounts Receivable

Funds that clients or customers owe to a company for products or services delivered but not yet compensated for.

Accounts Payable

Liabilities of a business that are due to suppliers and creditors within the short term, typically less than a year.