Reference no: EM13512278
TRUE/FALSE
1.The balancing item in the statement of changes in financial statement was the change in the fund balance itself.
2.Only transactions having a direct effect on fund accounts were included in the statement of changes in financial position.
3.The balance sheet gives insight into the cash-generating potential of the operations of a firm.
4.An exit-price accounting system provides an estimate of the cash conversion value of a firm’s resources.
5.During the FASB’s deliberations that led up to the cash flow statement, a consensus emerged that funds should be defined as cash rather than net working capital mainly because net working capital transaction are more difficult to isolate than are cash transactions.
6.In the cash flow statement, cash is defined as literal cash on hand or on demand deposit plus cash equivalents.
7.SFAS No. 95 requires that all non-cash investing and financing transactions be reported in the body of the cash flow statement.
8.Use of the direct method on the cash flow statement frequently results in non-articulation.
9.The direct method requires a schedule reconciling net operating cash flow with net income.
10.Interest expense and long-term notes payable both appear in the financing section of the cash flow statement.
11.On the statement of cash flows, the proceeds from the sale of equipment would be classified as a financing activity.
12.On the statement of cash flows, the direct method reports literal cash flows related to income statement classifications.
13.On the statement of cash flows, the direct method starts with accrual income and adjust it for the non-cash items it contains.
14.With SFAS No. 95, the FASB chose to follow the entity model rather than the traditional income statement (proprietary) approach.
15.Research is supportive of the contention that cash and funds flow data are informative above and beyond accrual date.
|
Explain a competitive inhibitor and a kmapp of 12 µm
: An enzyme has a Km of 8 µM in the absence of a competitive inhibitor and a Kmapp of 12 µM in the presence of 3 µM of the inhibitor. Calculate KI.
|
|
Explain what is the catalytic efficiency of the enzyme
: If the Km of carbonic anhydrase for the above reaction is 1.8 mM, what is the catalytic efficiency of this enzyme under these conditions. The units are s-1M-1.
|
|
Determine the following amounts owner equity
: At the end of its accounting period, December 31, 2007, Pima has assets of $617,000 and liabilities of $382,000. Using the accounting equation, determine the following amounts.
|
|
Should national american bank make to record loss
: As a result, the bank decided that the loan was impaired. If the loss is estimated to be $225,000, what entryies should National American Bank make to record this loss?
|
|
Statement of cash flows
: During the FASB’s deliberations that led up to the cash flow statement, a consensus emerged that funds should be defined as cash rather than net working capital mainly because net working capital transaction are more difficult to isolate than are cas..
|
|
Determine how many stairs must the woman climb
: A 62 kg woman cheats on her diet and eats a 637 Calorie (637 kcal) jelly donut for breakfast. How many stairs must the woman climb to perform an amount of mechanical work equivalent to the food energy in one jelly doughnut
|
|
Explain ethylene glycol hoch2ch2oh is used as antifreeze
: Ethylene glycol, HOCH2CH2OH, is used as antifreeze. It is produced from ethylene oxide, C2H4O, by the following reaction. C2H4O(g) + H2O(l) HOCH2CH2OH(l)
|
|
State which account in davies books of account debited
: State which account in Davies' books of account should be debited and which account should be credited for each transaction.
|
|
Transactions for evergreen lawn care company
: List the numbers of the above transactions and describe the effect of each transaction on assets, liabilities, and stockholders' equity. For example, the first answer is: (1) Increase in assets and increase in stockholders' equity.
|