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Master the Statement of Cash Flows
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Master the Statement of Cash Flows

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Questions and Answers

Which of the following transactions is NOT reported in the statement of cash flows?

  • Credit card transactions (correct)
  • Transactions between cash and cash equivalents
  • Cash outflows
  • Cash inflows

    • Which of the following is one of the five important steps to preparing a statement of cash flows?

  • Compute and report the net cash from or for financing activities
  • Compute the net cash flow from all sources and prove the change.
  • Compute and report the net cash from or for operating activities (correct)
  • Compute the net income

    • Which of the following is NOT one of the five important steps to preparing a statement of cash flows?

  • Compute and report the net cash from or for investing activities
  • Compute net increase or decrease in cash
  • Compute and report the net cash from or for financing activities
  • Compute the net income (correct)

    • Which of the following steps involves computing the difference between the beginning and ending cash balances?

    <p>Compute net increase or decrease in cash</p> Signup and view all the answers

    Which of the following is a noncash investing and financing activity that must be reported in a note to the statement of cash flows?

    <p>Retirement of debt by issuing stock</p> Signup and view all the answers

    Which of the following is a cash investing and financing activity that must be reported in the statement of cash flows?

    <p>Issuance of bonds payable</p> Signup and view all the answers

    Which of the following is a long-term lease transaction that must be reported in a note to the statement of cash flows?

    <p>Capital lease of a vehicle</p> Signup and view all the answers

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