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ACC 560 Week 10 Quiz (Chapter 13)
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Check My Assignment!Question 1
Indicate where the event purchase of land and a building with a mortgage would appear, if at all, on the indirect statement of cash flows.
Question 2
Generally, the most important category on the statement of cash flows is cash flows from
Question 3
Each of the following is an example of a significant noncash activity except
Question 4
If a gain of $12,000 is incurred in selling (for cash) office equipment having a book value of $110,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
Question 5
Which of the following would not be an adjustment to net income using the indirect method?
Question 6
Jean’s Vegetable Market had the following transactions during 2017:
- Issued $50,000 of par value common stock for cash.
- Repaid a 6 year note payable in the amount of $22,000.
- Acquired land by issuing common stock of par value $50,000.
- Declared and paid a cash dividend of $7,000.
- Sold a long-term investment (cost $3,000) for cash of $6,000.
- Acquired an investment in IBM stock for cash of $10,000.
What is the net cash provided by financing activities?
Question 7
The statement of cash flows should help investors and creditors assess each of the following except the
Question 8
Significant noncash transactions would not include
Question 9
In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is
Question 10
Lending money and collecting the loans are
