Acc 410 quiz week 7 - Question 1 3 out of 3 points Cash...

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Question 1 3 out of 3 points “Cash flows from investing activities” include which of the following as outflows Selected Answer: Purchase of short-term investments. Correct Answer: Purchase of short-term investments. Question 2 3 out of 3 points Which of the following is NOT true about internal service funds as reported in the fund financial statements? Selected Answer: Billing rates must be set to cover the full cost of providing the goods or services. Correct Answer: Billing rates must be set to cover the full cost of providing the goods or services. Question 3 3 out of 3 points Which of the following entities is required to use the direct method to report its cash flows? Selected Answer: City of Gaston Utility Fund. Correct Answer: City of Gaston Utility Fund. Question 4 3 out of 3 points In a statement of net position, the net position of a proprietary fund should be displayed in which of the following categories? Selected Answer: Unrestricted net position; restricted net position; invested in capital assets, net of related debt. Correct
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Answer: Unrestricted net position; restricted net position; invested in capital assets, net of related debt.
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  • Spring '14
  • Accounting, 410, Generally Accepted Accounting Principles

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