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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?

Compute net increase or decrease in cash 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?

Retirement of debt by issuing stock 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?

Issuance of bonds payable 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?

Capital lease of a vehicle Signup and view all the answers