1. In a pure financial merger, which of the following benefits is expected?

a. Management efficiency

b. Economic of scale

c. Operaring economics

d. All of the above

e. None of the above

2. Six months ago, Joe purchased a new dining room table for $6,500. In preparing accurate personal financial statements, this purchase would appear as a(n):

1. Use assets on the client's balance sheet.

2. Investment assets on the client's balance sheet.

3. Variable outflow on the client's cash flow statement.

4. Fixed outflow on the client's cash flow statement.

4 only.

1 and 3.

2 and 4.

1, 2, and 3.