Lesson 1 - Sammy Chandna Introductory Financial Accounting...

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Sammy Chandna Introductory Financial Accounting ACCT 2001 672422 Lesson 1 BE1-3 Indicate in which part of the statement of cash flows each item would appear operating activities (O), investing activities (I), or financing activities (F). (a) (O) - Cash received from customers. (b) (F) - Cash paid to stockholders (dividends). (c) (F) - Cash received from issuing new common stock (d) (I) - Cash paid to suppliers (e) (I) - Cash paid to purchase a new office building E1-1 Match each word or phrase with the best description of it. (a) Auditor’s Opinion – An expression about whether financial statements are presented in a reasonable fashion. (b) Corporation – A business enterprise that raises money by issuing shares of stock. (c) Common Stock – The portion of stockholders’ equity that results from receiving cash from investors. (d) Accounts Payable – Obligations to suppliers of goods (e) Accounts Receivables – Amounts due from customers (f) Creditor - A party to whom a business owes money
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Lesson 1 - Sammy Chandna Introductory Financial Accounting...

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