ACCT 202 Exam 1 Practice.docx - Accounting 202 SAMPLE TEST QUESTIONS \u2013 EXAM 1 PLEASE NOTE Some of the following materials have been adapted from

ACCT 202 Exam 1 Practice.docx - Accounting 202 SAMPLE TEST...

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Accounting 202 SAMPLE TEST QUESTIONS – EXAM 1 PLEASE NOTE: Some of the following materials have been adapted from Managerial Accounting , 5e, Braun, Tietz, & Harrison, Pearson Prentice-Hall and its accompanying supplements. THESE SAMPLE TEST QUESTIONS ARE NOT THE SAME AS THE QUESTIONS THAT WILL APPEAR ON YOUR TEST. THEY DO NOT NECESSARILY REFLECT EITHER THE COVERAGE OF TOPICS OR THE LEVEL OF DIFFICULTY OF THE EXAM ITSELF. Chapter 13 1) The correct order of the sections on a statement of cash flows is A.operating, investing, financing. B.financing, investing, operating. C.investing, operating, financing. D.operating, financing, investing. 2) A cash flow statement shows $25,000 from financing, ($9,200) from investing and $21,000 from operations. The cash balance at the end of the year must have increased or decreased by 3) Which of the following would appear in the operating activity section of the statement of cash flows prepared using the directmethod? 4) Which of the following sections from the statement of cash flows includes purchases and sales of long-term assets? 5) On the statement of cash flows, which of the following sections includes the issuance of stock and the payment of dividends? A.Financing sectionB.Investing sectionC.Operating sectionD.None of the above 6) All of the following are examples of cash outflows from an investing activity except 7) A company uses the indirectmethod to prepare the statement of cash flows. It sold a piece of land at a gain of $3,600.The land originally cost $17,600 and sold for cash of $21,200. What is reported on the statement of cash flows related to this transaction?
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