ch05 - CHAPTER 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS...

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CHAPTER 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS MULTIPLE CHOICE —Conceptual Answer No. Description d 1. Limitation of the balance sheet. c 2. Uses of the balance sheet. d 3. Definition of net assets. b 4. Current assets presentation. b 5. Operating cycle. d 6. Operating cycle. d 7. Identification of current asset. d 8. Identification of current asset. d 9. Identification of current asset. d 10. Classification of short-term investments. c 11. Classification of inventory pledged as security. b 12. Identification of long-term investments. d 13. Identification of valuation methods. b 14. Identification of current liabilities. d 15. Definition of working capital. b 16. Identification of working capital items. d 17. Identification of long-term liabilities. d 18. Identification of long-term liabilities. d 19. Classification of treasury stock. d 20. Disclosures for common stock. d 21. Classification of investment in affiliate. c 22. Classification of owners' equity. d 23. Classification of assets. d 24. Methods of disclosure. d 25. Disclosure of significant accounting policies. d 26. Disclosure of depreciation methods used. d 27. Required notes to the financial statements. b 28. Identification of generally accepted account titles. c 29. Purpose of the statement of cash flows. b 30. Classification of cash receipts. b 31. Identify a financing activity. c 32. Cash flow from operating activities. a 33. Identify an investing activity. d 34. Preparing the statement of cash flows. b 35. Cash debt coverage ratio. b 36. Current cash debt coverage ratio. d 37. Financial flexibility measure. c 38. Calculation of free cash flow.
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Test Bank for Intermediate Accounting, Eleventh Edition MULTIPLE CHOICE —CPA Adapted Answer No. Description d 39. Calculate total current assets. d 40. Calculate total current assets. a 41. Calculate total current liabilities. c 42. Calculate retained earnings balance. b 43. Calculate current and long-term liabilities. c 44. Summary of significant accounting policies. c 45. Classification of investing activity. a 46. Classification of operating activity. d 47. Classification of financing activity. b 48. Classification of investing activity. EXERCISES Item Description E5-49 Definitions. E5-50 Terminology. E5-51 Current assets. E5-52 Account classification. E5-53 Valuation of balance sheet items. E5-54 Balance sheet classifications. E5-55 Balance sheet classifications. E5-56 Balance sheet classifications. E5-57 Statement of cash flows. E5-58 Statement of cash flows ratios. PROBLEMS Item Description P5-59 Balance sheet format. P5-60 Balance sheet preparation. 5 - 2
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Balance Sheet and Statement of Cash Flows CHAPTER LEARNING OBJECTIVES 1. Identify the uses and limitations of a balance sheet. 2.
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This note was uploaded on 05/01/2011 for the course ACCT 3341 taught by Professor Dr.ramaswamy during the Spring '09 term at University of St. Thomas-Texas.

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ch05 - CHAPTER 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS...

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