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13. A purchase of land in exchange for a long-term...

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13. A purchase of land in exchange for a long-term note payable is reported in the investing section of the statement of cash flows. True False 17. Accounting standards require that the statement of cash flows be included in a complete set of financial statements. True False 30. Cash paid out for merchandise is considered to be an operating activity. True False 41. When preparing the operating section of the statement of cash flows using the indirect method, a decrease in accounts receivable is subtracted from net income. True False 56. The statement of cash flows is: A. Another name for the statement of financial position B. A financial statement that presents information about changes in equity during a period C. A financial statement that reports the cash inflows and outflows for an accounting period and that classifies those cash flows as operating activities, investing activities or financing activities D. A financial statement that lists the types and amounts of assets, liabilities and equity of a business on a specific date E. A financial statement that lists the types and amounts of the revenues and expenses of a business for an accounting period 58. The appropriate section in the statement of cash flows for reporting the purchase of equipment for cash is: A. Operating activities B. Financing activities C. Investing activities D. Schedule of noncash investing or financing activity E. None of these as this is not reported on the statement of cash flows ? 59. The appropriate section in the statement of cash flows for reporting the cash payment of wages is: A. Operating activities B. Financing activities C. Investing activities D. Schedule of noncash investing or financing activity E. None of these as this is not reported on the statement of cash flows 60. The appropriate section in the statement of cash flows for reporting the issuance of common stock for cash is: A. Operating activities B. Financing activities C. Investing activities D. Schedule of noncash investing or financing activity E. None of these as this is not reported on the statement of cash flows 66. Cash flows from interest received are reported in the statement of cash flows as part of: A. Operating activities B. Financing activities C. Investing activities D. Noncash activities E. None of these as this is not reported in the statement of cash flows 79. The reporting of net cash provided or used by operating activities that lists the major items of operating cash receipts, such as receipts from customers and subtracts the major items of operating cash disbursements, such as cash paid for merchandise is referred to as the: A. Direct method of reporting net cash provided or used by operating activities B. Cash basis of accounting C. Classified statement of cash flows D. Indirect method of reporting net cash provided or used by operating activities E. Net method of reporting cash flows from operating activities JH Oct 23, 2011,Thank you for answer my question !!,Are you still doing my question?? I need to get answers today!! Please check it!! Thank you very much!!

 

Paper#3416 | Written in 18-Jul-2015

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