Practice exam Chapter 16

Practice exam Chapter 16 - Review Assessment: Chapter 16:...

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Review Assessment: Chapter 16: True/False Quiz Questio n 1 1 out of 1 points The statement of cash flows is required as part of the basic set of financial statements. Selected Answer: Questio n 2 1 out of 1 points Cash outflows from the payment of cash dividends is a type of financing activity. Selected Answer: Questio n 3 0 out of 1 points Cash receipts from the sale of fixed assets would be classified as a cash flow from investing activities. Selected Answer: Correct Answer: Feedback : Incorrect. Questio n 4 0 out of 1 points Under the direct method, depreciation is the first noncash account balance analyzed. Selected Answer: Correct Answer: Feedback: Incorrect. Only cash receipts and payments from operations are evaluated under the direct method; thus, depreciation is not analyzed under the direct method.
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Questio n 5 0 out of 1 points Under the indirect method, increases in current liabilities are deducted from net income reported on the income statement in determining cash flows from operating activities. Selected Answer:
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Practice exam Chapter 16 - Review Assessment: Chapter 16:...

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