The requirement for a statement of cash flows was preceded by the requirement for the statement...
The requirement for a statement of cash flows was preceded by the requirement for the statement of changes in financial position. Select one: True or False
Homework Answers
True
Statement of changes in Financial position is directly preceded by the Funds flow statement and cash flow statement is directly preceded by Statement of changes in financial position. This is because of the importance of cash flow statement which represents changes in cash and shows the absolute liquidity while statement of changes in financial positions depicts notional liquidity and that would take time to convert into liquidity in terms of need.
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The requirement for a statement of cash flows was preceded by
the requirement for the statement...
Which of the following is NOT a requirement for a statement that reports changes in cash...
Which of the following is NOT a requirement for a statement that reports changes in cash over a period of time? a Non-cash transactions, such as investing and financing transactions that do not require the use of cash or cash equivalents, are included in the statement of cash flows as well. b The period in which the statement of cash flows is prepared must be provided in the title of the statement c The statement must classify cash flows into...
The cash flows from financing activities is the section of the statement of cash flows where...
The cash flows from financing activities is the section of the statement of cash flows where cash transactions for the acquisition and sale of permanent assets are reported Select one: True False
1)Information to prepare the statement of cash flows usually comes from (a) comparative balance sheets, (b)...
1)Information to prepare the statement of cash flows usually comes from (a) comparative balance sheets, (b) current income statement, and (c) additional information. Select one: True False 2) A cash coverage ratio of less than 1 indicates cash inadequacy to meet asset growth. Select one: True False. 3)A cash coverage ratio of less than 1 indicates cash inadequacy to meet asset growth. Select one: True False 4)One of the usual differences between financial and managerial accounting is the time dimension...
Assets of governmental-type funds include cash and investments, but not capital assets. Select one: True False...
Assets of governmental-type funds include cash and investments, but not capital assets. Select one: True False Long-term borrowing is a source of financing capital acquisitions, but the borrowing is not reported as a liability of the Capital Projects Fund. Select one: True False The required financial statements for fiduciary type funds are a statement of changes in fiduciary net position and a statement of fiduciary net position. Select one: True O False
True-False Statement with explanation! 1) The statement of cash flows classifies cash receipts and payments as...
True-False Statement with explanation! 1) The statement of cash flows classifies cash receipts and payments as operating, nonoperating, and financial activities. 2) In preparing a statement of cash flows, an increase in the Share Capital and Treasury Shares accounts during a period would be an investing activity.
The only financial statement used to prepare the statement of cash flows is the balance sheet....
The only financial statement used to prepare the statement of cash flows is the balance sheet. O True False
The statement of cash flows is: 11 Multiple Choice 3 points 92:27:30 A financial statement that...
The statement of cash flows is: 11 Multiple Choice 3 points 92:27:30 A financial statement that reports the cash inflows and cash outflows for an accounting period, and that classifies those cash flows as operating activities, investing activities, or financing activities. Another name for the statement of financial position. A financial statement that presents information about changes in equity during a period A financial statement that lists the types and amounts of the revenues and expenses of a business for...
The disposition of a plant asset is reported on the statement of cash flows as a...
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. O O True False Intangibles with indefinite lives are never amortized. True True False Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. O O True False
T/F and explaination: 1/The cash flow statement summarizes the cash flows into and out of an...
T/F and explaination: 1/The cash flow statement summarizes the cash flows into and out of an entity True False 2/The cash flow statement summarizes the cash flows into and out of an entity True False 3/Accrual accounting is an application of the matching rule True False
Requirement 1. Prepare the statement of cash flows of Dumont Educational Supply for the year ended...
Requirement 1. Prepare the statement of cash flows of Dumont Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement leave the box empty: do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows...
The cash flows from financing activities is the section of the statement of cash flows where cash transactions for the acquisition and sale of permanent assets are reported Select one: True False
Assets of governmental-type funds include cash and investments, but not capital assets. Select one: True False Long-term borrowing is a source of financing capital acquisitions, but the borrowing is not reported as a liability of the Capital Projects Fund. Select one: True False The required financial statements for fiduciary type funds are a statement of changes in fiduciary net position and a statement of fiduciary net position. Select one: True O False
The only financial statement used to prepare the statement of cash flows is the balance sheet. O True False
The statement of cash flows is: 11 Multiple Choice 3 points 92:27:30 A financial statement that reports the cash inflows and cash outflows for an accounting period, and that classifies those cash flows as operating activities, investing activities, or financing activities. Another name for the statement of financial position. A financial statement that presents information about changes in equity during a period A financial statement that lists the types and amounts of the revenues and expenses of a business for...
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. O O True False Intangibles with indefinite lives are never amortized. True True False Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. O O True False
Requirement 1. Prepare the statement of cash flows of Dumont Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement leave the box empty: do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows...
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