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Unformatted text preview: Question 1 (1 point) The following information is available to prepare a statement of cash flows: Cash paid to owners for dividends $1,000 Cash received from customers from prior credit sales 8,600 Cash paid for long-term assets 3,300 Cash paid for income taxes 2,700 What are the cash flows from operations under the direct method? Student response: Student Response Answer Choices a. $11,300 b. $ 5,900 c. $ 5,300 d. $ 2,600 Score: 0 / 1 Question 2 (1 point) Which of the following situations would best indicate strong company performance? operating cash flow; investing cash flow Student response: Student Response Score: 1 / 1 Question 3 (1 point) In the long run, a firm must depend on its _______ activities to meet most of its cash flow needs. Student response: Student Response Score: 1 / 1 Question 4 (1 point) Sales on account for the year totaled $200,000. The following information is also available from the accounting system:Sales on account for the year totaled $200,000....
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