Question

Which of the following statements regarding the statement of cash flows is true? a.The statement of...

Which of the following statements regarding the statement of cash flows is true?

a.The statement of cash flows is organized to present classifications for total cash inflows and cash outflows.

b.The statement of cash flows analyzes the changes in consecutive balance sheets in conjunction with the income statement.

c.The statement of cash flows is an optional financial statement.

d.The statement of cash flows analyzes only the changes in current assets and current liabilities.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer- The correct answer is A) The statement of cash flows is organised to present classifications for total cash inflows and cash outflows.

B) is incorrect as Cash flow statement states the Movements in cash and cash equivalents over between 2 balance sheet dates

C) is incorrect as cash flow statement is a Mandatory financial statement

D) is incorrect as Cash flow statement also analyses the Investing and financing activities along with current assets and current liabilities

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following statements is true regarding private colleges and universities? A.The statement of cash...
Which of the following statements is true regarding private colleges and universities? A.The statement of cash flow is separated into four categories. B.The “income statement” is separated into several columns and categories C.They are not required to file a statement of cash flow D.Net assets include the category: “Capital assets net of related debt.”
Calculate the quick ratio using the following information. (Round to two decimal places.) Cash $50,000 Accounts...
Calculate the quick ratio using the following information. (Round to two decimal places.) Cash $50,000 Accounts receivable $130,000 Inventories $210,000 Prepaid assets $15,000 Current liabilities $200,000 a.0.98 b.2.50 c.0.90 d.1.35 The ability of a company to pay debts as they become due is best analyzed using: a.net cash flows from operating activities. b.accrual accounting. c.the cash inflows from financing activities. d.the cash basis of accounting. Which of the following is true of the accrual basis of accounting? a.Only individuals and...
Which of the following statements is incorrect regarding the investing activities section of the statement of...
Which of the following statements is incorrect regarding the investing activities section of the statement of cash flows? Multiple Choice a. Investing activities deal with long-term liabilities (debt) and equity accounts. b. Increases in long-term asset balances suggest cash outflows to purchase assets. c. Decreases in long-term asset balances suggest cash inflows from selling assets. d. Investing activities involve cash purchases and cash disposals of long-term assets.
Which of the following statements regarding “pioneering advertising” is true? a.The purpose of pioneering advertising is...
Which of the following statements regarding “pioneering advertising” is true? a.The purpose of pioneering advertising is to convince consumers to switch brands. B.The purpose of pioneering advertising is to build “primary” demand. c.The purpose of pioneering advertising is to build “selective” demand. d. All of the above
Which of the following statements is true regarding the two allowance methods used to account for...
Which of the following statements is true regarding the two allowance methods used to account for bad debts? a.The percentage of net credit sales approach takes into account the existing balance in the Allowance for Doubtful Accounts account. b.The direct write-off method does a better job of matching revenues and expenses. c.The direct write-off method takes into account the existing balance in the Allowance for Doubtful Accounts account. d.The percentage of accounts receivable approach takes into account the existing balance...
1.which of the following statements is true regarding the US economy A.The us economy is relatively...
1.which of the following statements is true regarding the US economy A.The us economy is relatively open, importing large portions of goods sold domestically B.The us economy is relatively open, importing small portions of goods sold domestically C.The us economy is relatively closed, importing large portions of goods sold domestically D.The us economy is relatively closed, importing small portions of goods sold domestically 2. Which of the following erodes the store of value function of money A Unemployment B Inflation...
When evaluating the impact of misstatements on the financial statements, auditors must use both the rollover...
When evaluating the impact of misstatements on the financial statements, auditors must use both the rollover and iron curtain approaches. Regarding these approaches, which of the following statements is correct: Group of answer choices: a.The iron curtain approach quantifies the impact of current year and prior misstatements on the balance sheet. b.The rollover approach quantifies the impact of current year misstatements on the balance sheet. c.The iron curtain approach quantifies the impact of current year misstatements on the income statement....
Which of the following statements are true? A.The number of moles in 1.00 atm of gas...
Which of the following statements are true? A.The number of moles in 1.00 atm of gas was the same, despite the fact that the gases themselves had different identities. B.The number of moles in 1.00 atm of gas varied linearly with increasing molar mass. C.The volume of the gas varied depending on the identity of the gas. D.The number of moles in 1.00 atm of gas varied hyperbolically with increasing molar mass. Given Avogadro's Law, which of the following statements...
1. Which of the following is correct about the income statement: * It is an equation...
1. Which of the following is correct about the income statement: * It is an equation used by financial analysts It is an equation used by politicians It is a report that shows the cash inflows and cash outflows of the company It is a report that shows the revenues and expenses of the company None of the above 2. Which of the following is correct about cash flows statement: * It includes only the cash outflows It shows the...
Use the following items to prepare a balance sheet and a cash flow statement. Determine the...
Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. Balance Sheet and Cash Flows Rent for the month $ 1,330 Monthly take-home salary $ 3,900 Cash in checking account 810 Savings account balance 2,740 Spending for food 1,300 Balance of educational loan 2,770 Current value of automobile 8,550 Telephone bill paid for month 119 Credit card balance 320 Loan payment...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT