Lesson 11 Quiz.pdf - ACC 201 Lesson 11 Quiz Name_1 The primary purpose of the statement of cash flows is to report all major cash receipts(inflows and

Lesson 11 Quiz.pdf - ACC 201 Lesson 11 Quiz Name_1 The...

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ACC 201 Lesson 11 Quiz Name ________________ ___1. The primary purpose of the statement of cash flows is to report all major cash receipts (inflows) and cash payments (outflows) during a period. ___2. The statement of cash flows explains the difference between the beginning and ending balances of cash and cash equivalents. ___3 . Internal users of the statement of cash flows often use cash flow information to plan day-to-day operating activities and make long-term investment and financing decisions. ___4. Accounting standards require companies to include a statement of cash flows in a complete set of financial statements. ___5. The statement of cash flows reports: A. Assets, liabilities and equity B. Revenues, gains, expenses and losses C. Cash inflows and cash outflows for an accounting period D. Equity, net income and dividends E. Changes in equity ___ 6. The appropriate section in the statement of cash flows for reporting the purchase of equipment for cash is: A. Operating activities B. Financing activities C. Investing activities D.
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