Statement of Cash Flows

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Statement of Cash Flows

Statement of Cash FlowsAccounting Play 12022-11-07T16:30:55+00:00

Quiz - Statement of Cash Flows

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2Question 1-10

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1. Which of the following is true regarding the statement of cash flows:
- Reports financial position at a point in time
- Reports financial performance for a period of time
- Reports sources and changes of equity
- Reports changes in cash between accounting periods
2. The indirect method of cash flows preparation uses account changes found in which financial statement?
- Statement of retained earnings
- Balance sheet
- Income statement
- Notes
3. Which of the following methods is the most common way to prepare the statement of cash flows?
- Balance sheet method
- Direct method
- Indirect method
- General ledger method
4. What type of activities may be covered on the statement of cash flows?
- Operating
- Investing
- Financing
- All of the above
5. What section of the cash flow statement would you find a purchase of manufacturing equipment?
- Operating
- Investing
- Financing
- Supplemental
6. Would the following be an add back or decrease to net income or loss on the cash flow statement: Increase in prepaid expense
- Add back
- Decrease
7. What type of stakeholder may be particularly interested in the statement of cash flows?
- Employee
- Government
- Investor
- Barney
8. How is the cash flow statement and comparative balance sheet related?
- Beginning and ending cash
- Beginning and ending equity
- Reconciliation of net income
- Lengthy notes to the financial statements
9. What is a common operating add back to net income found on the cash flow statement because it is a non-cash expense?
- Common stock
- Treasury stock
- Depreciation
- All of the above
10. What is fundamental to understanding the cash flow statement?
- Treasury stock
- Cash versus non-cash transactions
- Stock warrants
- Business strategy
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