ch 5 - Question 1 (1 point) Which of the following are...

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Question 1    (1 point) Which of the following are permissible methods of presenting "Cash Flow from Operating Activities?" Indirect Method; Direct Method  Student response: Student Response Answer Choices a. Yes; Yes b. Yes; No c. No; Yes d. No; No Score: 1 / 1   Question 2    (1 point) Boomer's Auto Sound Company reported 2007 sales of $640,000. The following information is also available:
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Accounts Receivable Balances Beginning of year $50,000 End of year 80,000 On a statement of cash flows (direct format) what amount would be reported for "cash collected from customers" for 2007?  Student response: Student Response Answer Choices a. $510,000 b. $670,000 c. $610,000 d. $720,000 Score: 1 / 1   Question 3    (1 point) A company's net income and operating cash flow are _______ equal. 
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Student Response Answer Choices a. never b. seldom c. approximately d. always Score: 1 / 1   Question 4    (1 point) Sales for the year totaled $85,000 with $70,000 of it sold on account. Beginning accounts receivable was $9,000 while  ending accounts receivable totaled $12,000. What amounts of revenue and cash flow will be reported for the period as a  result of these facts? Revenue; Cash Flow 
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This note was uploaded on 04/29/2010 for the course ACCT 5031 taught by Professor Rusth during the Fall '09 term at University of Houston.

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ch 5 - Question 1 (1 point) Which of the following are...

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