ACC quiz 10

Cash equivalents are assets that are easily converted to cash regardless of their time to maturity. T or F?
True False

When the cash flows from operating, investing, and financing activities are combined to arrive at the overall net change in cash, a net decrease in cash is subtracted from the begining cash to calculate the ending cash balance. T or F?
True False

The reporting of financing activities is identical under the indirect and direct methods for the Statement of cash flows. T or F

TRUE

When the indirect method is used, if prepaid expenses decrease during the accounting period, the change in prepaid expense is

What is the first step in calculating cash flows from operations when the indirect method is used?

Cash flows from financing activities:

Cash flows from investing activities include cash:

Which is included in cash flows from financing activities

Which of the following would be included in cash flows from investing activities

Which would  be included in cash flows from operating activities

Cash and cash equivalents include:

Which of the following types of information is not provided by the statement of cash flows

Your company owned equipment with a book value of $120,000 that was sold during this accounting period for $30,500 in cash, and purchased new equipment for cash of $148,000. Your company would record: