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Unformatted text preview: Libby/Libby/Short 6e Chapter 13 – Multiple-Choice Quizzes 1 A cash equivalent is a short-term, highly liquid investment with an original maturity date of less than A) six months. B) five months. C) four months. D) three months. Answer D 2 The statement of cash flows prepared under the indirect method starts with A) cash receipts and cash expenditures to compute net cash inflow or outflow from operating activities. B) the net income determined using the accrual method of accounting and adjusts it to the cash flow from operating activities. C) the net income determined using the cash basis of accounting and adjusts it to an accrual basis. D) cash receipts and cash expenditures to compute net cash inflow or outflow from investing activities. Answer B 3 Which of the following is reported as an investing activity on the statement of cash flows?...
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This note was uploaded on 01/19/2012 for the course ACC 211 taught by Professor Sicre during the Spring '07 term at University of Miami.
- Spring '07