Reference no: EM13919740

1. Which one of the following financial statements does not report amounts primarily on an accrual basis?

2. Which of the following is not required by generally accepted accounting principles?

3. Which of the following is always reported as an outflow of cash?

4. Which of the following causes a change in cash?

5. Cash equivalents generally would not include short-term investments in:

6. How is the amortization of patents reported in a statement of cash flows that is prepared using the indirect method?

7. Which of the following is reported as an investing activity on the statement of cash flows?

8. Which of the following is reported as an operating activity on the statement of cash flows?

9. Which of the following is reported as a financing activity on the statement of cash flows?

10. Which of the following is not classified as an operating activity?

11. When a company purchases a security it considers a cash equivalent, the cash outflow is:

12. Cash paid to suppliers under the direct method is computed as:

13. Which of the following never requires an outflow of cash?

14. The amortization of bond discount is included in the statement of cash flows (indirect method) as:

15. Which of the following is reported as a deduction from net income when using the indirect method to determine net cash flows from operating activities?

16. Cost of goods sold as reported on the income statement will be less than cash paid to suppliers if:

17. The primary objective of the statement of cash flows is to provide information about a company's:

18. Of the following, which is not an investing activity?

19. Which of the following would not be a cash inflow from financing activities?

20. Which of the following would be reported as a cash outflow from investing activities?

21. Payments to acquire bonds of other corporations should be classified on a statement of cash flows as:

22. Which of the following would be added to net income when determining cash flows from operating activities under the indirect method:

23. Which of the following would be an example of an investing activity on a statement of cash flows?

24. Interest payments to creditors are reported on a statement of cash flows as:

25. On December 31, 2000, Tiretread Company reported net income of $50,000 and sales of $200,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Tiretread will report cash collected from customers in its 2000 statement of cash flows (direct method) in the amount of:

26. On December 31, 2000, Throwaway Company reported net income of $50,000 and sales of $200,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Tiretread will report cash collected from customers in its 2000 statement of cash flows (indirect method) in the amount of:

27. Pacard Company's prepaid insurance was $8,000 at December 31, 1999 and $10,000 at December 31, 2000. Pacard reported insurance expense of $15,000 on the 2000 income statement. What amount would be reported on the statement of cash flows as insurance paid using the direct method?

28. During the year, cash increased by $300 million. Investing and financing activities created positive cash flow totaling $700 million. What were net cash flows from operating activities on the statement of cash flows?

29. A firm reported salary expense of $189,000 for the current year. The beginning and ending balances in salaries payable were $15,000 and $40,000, respectively. What was the amount of cash paid for salaries?

30. Mature Corporation declared cash dividends of $3,500 during the current year. The beginning and ending balances in dividends payable were $250 and $750, respectively. What was the amount of cash paid for dividends?