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There are two alternatives to reporting cash flows from operating activities in the statement of cash flows: (1)the direct method and (2)the indirect method.

A) True
B) False

Correct Answer

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If a gain of $11,000 is realized in selling (for cash) office equipment having a book value of $55,000,the total amount reported in the Cash flows from investing activities section of the statement of cash flows is


A) $44,000
B) $11,000
C) $55,000
D) $66,000

E) A) and B)
F) C) and D)

Correct Answer

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Identify the section of the statement of cash flows (a-d) where each of the following items would be reported. -Purchase of the stock of another company as investment


A) Operating activities
B) Financing activities
C) Investing activities
D) Schedule of noncash financing and investing

E) All of the above
F) A) and B)

Correct Answer

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Cash inflows and outflows are not netted in the investing or financing sections of the statement of cash flows but are separately disclosed to give the reader full information.

A) True
B) False

Correct Answer

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The order of presentation of activities on the statement of cash flows is


A) operating, investing, and financing
B) operating, financing, and investing
C) financing, operating, and investing
D) financing, investing, and operating

E) None of the above
F) B) and D)

Correct Answer

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The statement of cash flows shows the effects on cash of a company's operating,investing,and financing activities.

A) True
B) False

Correct Answer

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The following information is available from the current period financial statements:​ The following information is available from the current period financial statements:​ The net cash flow from operating activities using the indirect method is A) $166,000 B) $184,000 C) $110,000 D) $240,000 The net cash flow from operating activities using the indirect method is


A) $166,000
B) $184,000
C) $110,000
D) $240,000

E) All of the above
F) C) and D)

Correct Answer

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