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AC202 Corrected Exam 2

AC202 Corrected Exam 2 - 100/100 AC 202 Principles of...

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100/100 AC 202 Principles of Accounting Name____Jered Havens _______________ Park University Exam 2A-Chapters 16-18 Multiple Choice Questions ( 2 points each ) Select the ONE, BEST Answer 1. The reporting of net cash provided or used by operating activities that lists the major items of operating cash receipts, such as receipts from customers, and subtracts the major items of operating cash disbursements, such as cash paid for merchandise, is referred to as the: A. Direct method of reporting net cash provided or used by operating activities. B. Cash basis of accounting. C. Classified statement of cash flows. D. Indirect method of reporting net cash provided or used by operating activities. E. Net method of reporting cash flows from operating activities. 1
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2. The direct method of reporting operating cash flows:
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