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Securities sold to investors

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Reference no: EM13926897

Question 1. External users want answers to all of the following questions except:

  • Is the company earning satisfactory income?
  • Will the company be able to pay its debts as they come due?
  • Did the company use a budget to plan its expenses?
  • How does the company compare in profitability with competitors?

Question 2. Debt securities sold to investors that must be repaid at a particular date some years in the future are called:

  • accounts payable.
  • notes receivable.
  • taxes payable.
  • bonds payable.

Question 3. Which activities involve putting the resources of the business into action to generate a profit?

  • Delivering
  • Financing
  • Investing
  • Operating

Question 4. The cost of assets consumed or services used is also known as:

  • a revenue.
  • an expense.
  • a liability.
  • an asset.

Question 5. Finley Company recorded the following cash transactions for the year:

Paid $90,000 for salaries.
Paid $40,000 to purchase office equipment.
Paid $10,000 for utilities.
Paid $4,000 in dividends.
Collected $150,000 from customers.

What was Finley's net cash provided by operating activities?

  • $50,000
  • $10,000
  • $60,000
  • $46,000

Reference no: EM13926897

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