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CHAPTER 14(13): STATEMENT OF CASH FLOWS
- The statement of cash flows is not one of the basic financial statements.
- True
- False
ANSWER: False
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- Cash, as the term is used for the statement of cash flows, could indicate either cash or cash equivalents.
- True
- False
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- The statement of cash flows is an optional financial statement.
- True
- False
ANSWER: False
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement ACCT.AICPA.FN.04 - Reporting
BUSPROG: Analytic
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.Managerial Accounting 13th Edition Warren Test Bank Visit TestBankDeal.com to get complete for all chapters
Chapter 14(13) : Statement of Cash Flows
- The statement of cash flows shows the effects on cash of a company's operating, investing, and financing activities.
- True
- False
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- The statement of cash flows reports a firm's major sources of cash receipts and major uses of cash for a period of
- True
- False
time.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- Cash flows from operating activities, as part of the statement of cash flows, include cash transactions that enter
- True
- False
into the determination of net income.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Chapter 14(13) : Statement of Cash Flows
- To arrive at cash flows from operations, it is necessary to convert the income statement from an accrual basis to
- True
- False
the cash basis of accounting.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- Cash flows from investing activities, as part of the statement of cash flows, would include any receipts from
- True
- False
the sale of land.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- Cash flows from financing activities, as part of the statement of cash flows, would include any payments
- True
- False
for dividends.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16- 01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Chapter 14(13) : Statement of Cash Flows
- Cash flows from investing activities, as part of the statement of cash flows, would include any payments for
- True
- False
the purchase of treasury stock.
ANSWER: False
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- Cash flows from investing activities, as part of the statement of cash flows, would include any receipts from
- True
- False
the issuance of bonds payable.
ANSWER: False
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
- There are two alternatives to reporting cash flows from operating activities in the statement of cash flows: (1) the
- True
- False
direct method and (2) the indirect method.
ANSWER: True
DIFFICULTY: Easy
Bloom’s: Remembering
LEARNING OBJECTIVES: ACCT.WARD.16.16-01 - 16-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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