Accounting Chapter 12 Study Guide part 2
1. In general, which of the following is considered the most
important category on the statement of cash flows?
cash flows from operating activities
2. Which of the following is most associated with financing
Accounting Chapter 12 Study Guide
1. Which of the following statements about free cash flow is
Free cash flow is not reported on the statement of cash flows.
2. Which of the following describes cash provided by
operations less capital expenditures a
Accounting Quiz 7 part 1
1. When would a bank issue a credit memorandum?
for the collection of a note receivable for the depositor by the
2. What does a check marked NSF mean?
no sufficient funds
3. A small company that has excess cash should invest
Accounting 101 quiz 5 part 3
1. If the credit terms on a sales invoice read "2/10,
n/30," what does this mean?
The buyer should pay within the discount period and
recognize a savings.
2. A retailer acquires merchandise for resale. How
would this be record
Accounting 101 Quiz 5 Part 2
1.Why might a company choose to use the single-step
income statement? Select all that apply.
The single-step income statement is easier to read. The
company does not realize any type of profit or income
until total revenues ex
Accounting 101 Quiz 5 part 1
1.How is the quality of earnings ratio computed?
by dividing net cash provided by operating activities by
2.How is the profit margin computed?
by dividing net income by net sales
3.How is the gross profit rate compu
Accounting 101 Quiz 4 Part 2
1. If an adjustment is needed for unearned revenues,
the liability is _and the related revenue is
understated before adjustment.
2. Which of the following explains the process of
Accounting 101 Quiz 4 Part 1
1. Which of the following statements about accrual-basis
accounting is NOT true?
Solution: Accrual-basis accounting recognizes expenses
when they are paid.
2. If a company spends $12 million dollars for a
warehouse, when shoul
1. Closing entries and a post-closing trial balance are
steps in the accounting cycle that occur
2. All balance sheet accounts are considered
_ accounts because their balances are
carried over into future accounting period