1. The Balance Sheet is the only Financial Statement valued at a point in time. --------- True or False 2. Dividend paym

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1. The Balance Sheet is the only Financial Statement valued at apoint in time. --------- True or False
2. Dividend payments to shareholders
a. reduce cash reserves and increase RetainedEarnings
b. all of the listed answers are potentiallycorrect
c. increase cash reserves and reduce retainedearnings
d. reduce cash reserves and reduce retained earnings
3. On the Balance sheet, "current liabilities" are listed in
a. order, with the liabilities coming due to the soonest listedfirst
b. a variety of orders as there is no standardized way to listliabilities on a Balance sheet
c. order of liquidity, with the liabilities coming due to thesoonest listed last
d. order with cash listed first and inventories listed last