Strayer ACC 557 Week 10 Chapter 13 Quiz

This Tutorial contains All possible Questions from this chapter (it contains more than 200 questions set)

SOME SAMPLE QUESTIONS ARE GIVEN BELOW OUT OF THOSE 200 QUESTIONS

Question no 1

Multiple Choice Question 86

Which one of the following affects cash during a period?

• Payment of accounts payable
• Recording depreciation expense
• Write-off of an uncollectible account receivable
• Declaration of a cash dividend

Question no 2

Multiple Choice Question 106

Land acquired from the issuance of common stock is reported

• as a financing activity.
• in a separate schedule at the bottom of the statement.
• as an investing activity.
• as an operating activity.

Question no 3

Multiple Choice Question 151

The information to prepare the statement of cash flows usually comes from each of the following except

• the comparative balance sheet.
• the current income statement.
• the retained earnings statement.
• additional information.

Question no 4

Multiple Choice Question 46

The statement of cash flows will not report the

• amount of checks outstanding at the end of the period.
• change in the cash balance for the current period.
• sources of cash in the current period.
• uses of cash in the current period.

Question no 5

Multiple Choice Question 90

Starting with net income and adjusting it for items that affected reported net income but which did not affect cash is called the

• cost-benefit method.
• direct method.
• indirect method.
• working capital method

Question no 6

Multiple Choice Question 93

In developing the cash flows from operating activities, most companies in the U. S.

• prepare the operating activities section on the accrual basis.
• use the direct method.
• use the indirect method.
• present both the indirect and direct methods in their financial reports.

Question no 7

Multiple Choice Question 71

Carrot Company issued common stock for proceeds of $381,000 during 2013. The company paid dividends of $90,000 and issued a long-term note payable for $95,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $18,000. The financing section of the statement of cash flows will report net cash inflows of

• $489,000.
• $183,000.
• $363,000.
• $273,000

Question no 8

IFRS Multiple Choice Question 223

Each of the following items may be classified as operating or financing activities under IFRS except

• dividends paid.
• dividends received.
• interest paid.
• All of these may be classified as such.

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Question no 9

Multiple Choice Question 74

Accounts receivable arising from sales to customers amounted to $45,000 and $50,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $160,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

• $205,000.
• $155,000.
• $165,000.
• $160,000

Question no 10

Multiple Choice Question 120

The statement of cash flows will not provide insight into

• whether cash flow is greater than net income.
• why dividends were not increased.
• the exact proceeds of a future bond issue.
• how the retirement of debt was accomplished.

Question no 11

Multiple Choice Question 83

Which one of the following items is not necessary for preparing a statement of cash flows?

• Determine the cash in all bank accounts
• Determine the change in cash
• Determine the cash provided by operations
• Determine cash from financing and investing activities

Question no 12

Multiple Choice Question 44

If a company reports a net loss, it

• will not be able to pay cash dividends.
• may still have a net increase in cash.
• will not be able to get a loan.
• will not be able to make capital expenditures.

Question no 13

Multiple Choice Question 108

In Flagg Company, net income is $280,000. If accounts receivable increased $145,000 and accounts payable decreased $50,000, net cash provided by operating activities using the indirect method is:

• $475,000.
• $185,000.
• $85,000.
• $375,000.

Question no 14

Multiple Choice Question 56

The category that is generally considered to be the best measure of a company’s ability to continue as a going concern is

• usually different from year to year.
• cash flows from operating activities.
• cash flows from investing activities.
• cash flows from financing activities.

Question no 15

Multiple Choice Question 150

Financing activities involve

• cash receipts from sales of goods and services.
• acquiring and disposing of productive long-lived assets.
• lending money to other entities and collecting on those loans.
• long-term liability and owners’ equity items.