B) Columns. C) Design. D) Display. E) Print. Feedback: Correct (Design) 5 CORREC For information about cash and accounts receivable, look at the following financial
T statements. A) Balance sheet. B) Statement of cash flow. C) Statement of changes in financial position. D) a. and b. but not c. E) a., b., and c. Feedback: Correct (a., b., and c.) True or False 1 CORREC T On the statement of cash flow, the cash balance at the end of the period should equal the total of all cash accounts on the balance sheet. A) True. B) False. Feedback: Correct 2 CORREC T The purpose of the statement of cash flow is to reconcile the net change in the cash accounts to the total of cash inflows less cash outflows for the period. A) True. B) False. Feedback: Correct 3 CORREC T On the income statement, an excess of revenues over expenses results in a net loss.
A) True. B) False. Feedback: Correct (An excess of revenues over expenses results in net income) 4 CORREC T There is no need to backup Chapter 7 because the Exercise 6-2.ptb backup file contains that data. A) True. B) False. Feedback: Correct 5 CORREC T Once journal entries are posted, financial statements are calculated automatically. A) True. B) False. Feedback: Correct
You've reached the end of your free preview.
Want to read all 4 pages?
- Summer '19