Spiceland chapter 21 9 topic preparation of the

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Spiceland - Chapter 21 #9 Topic: Preparation of the statement of cash flows 10. When one enters a $50,000 credit entry to the Land account in a spreadsheet for the statement of cash flows, it represents a negative change in that account and probably is due to selling such assets. TRUE AACSB: Analytic AICPA FN: Measurement Blooms: Analyze Difficulty: 2 Medium Learning Objective: 21-08 Prepare a statement of cash flows with the aid of a spreadsheet or T-accounts. Spiceland - Chapter 21 #10 Topic: Preparation of the statement of cash flows
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11. Which of the following financial statements is prepared as of a particular point in time rather than for a period of time? A. Statement of cash flows. B. Income statement. C. Statement of shareholders' equity. D. Balance sheet. AACSB: Reflective Thinking AICPA FN: Measurement Blooms: Remember Difficulty: 1 Easy Learning Objective: 21-01 Explain the usefulness of the statement of cash flows. Spiceland - Chapter 21 #11 Topic: Role of the statement of cash flows 12. Which one of the following financial statements does not report amounts primarily on an accrual basis? AACSB: Reflective Thinking AICPA FN: Measurement Blooms: Understand Difficulty: 1 Easy Learning Objective: 21-01 Explain the usefulness of the statement of cash flows. Spiceland - Chapter 21 #12 Topic: Role of the statement of cash flows
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13. Which of the following is not required by generally accepted accounting principles? AACSB: Reflective Thinking AICPA FN: Measurement Blooms: Remember Difficulty: 1 Easy Learning Objective: 21-01 Explain the usefulness of the statement of cash flows. Spiceland - Chapter 21 #13 Topic: Role of the statement of cash flows 14. Which of the following never requires an outflow of cash? AACSB: Reflective Thinking AICPA FN: Measurement Blooms: Understand Difficulty: 1 Easy Learning Objective: 21-01 Explain the usefulness of the statement of cash flows. Spiceland - Chapter 21 #14 Topic: Cash inflows and outflows
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15. Which of the following is not an inflow of cash? A. Depletion. B. Cash borrowed on a short-term note. C. Sale of a computer. D. Cash borrowed on a long-term note. AACSB: Reflective Thinking AICPA FN: Measurement Blooms: Understand Difficulty: 1 Easy Learning Objective: 21-01 Explain the usefulness of the statement of cash flows. Spiceland - Chapter 21 #15 Topic: Cash inflows and outflows
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