Accounting Skills Test (Cash Flow)
A cash flow statement is typically prepared _____________________.
A cash payment for land acquisition would appear in which of the following sections of the cash flow statement?
A payment made from accounts payable will cause cash to ______________ .
Accounts receivable that increased during the year would appear in which of the following sections of the cash flow statement?
Accruing an income tax liability will cause cash to ______________ .
Acquisition of treasury stock would be shown _____________________.
Amortized discount on bonds payable would appear in which of the following sections of the cash flow statement?
An amortization of a bond discount would be shown __________________.
An increase in the accounts payable balance would appear in which of the following sections of the cash flow statement?
An investment in the stock of another company would appear in which of the following sections of the cash flow statement?
At the beginning and end of 2007, XYZ Company reported the following balances for Bonds Payable: Jan 1: $100,000 Dec 31: $140,000 In addition, $60,000 In bonds was retired In 2007. Given the abov...
Cash borrowed from a bank by issuing a short-term note payable would appear in which of the following sections of the cash flow statement?
Cash paid for land would be shown as ________________.
Cash received from sale of investment would be shown on a cash flow statement as ___________.
Collecting receivables will cause cash to ______________ .
Declaring dividends will cause cash to ______________ .
Deferred income tax payable that increased during the year would appear in which of the following sections of the cash flow statement?
Depreciation recorded on equipment would appear in which of the following sections of the cash flow statement?
Dividends paid for the year would appear in which of the following sections of the cash flow statement?
During 2007, XYZ Company experienced the following changes: Current liabilities: $75,000 increase Non-current liabilities: $45,000 decrease Owners' equity: $51,000 decrease Non-current assets: $42...
Equity in the undistributed earnings of a recognized affiliate would appear in which of the following sections of the cash flow statement?
Equity income from an affiliate would be shown _____________________.
In 2007, XYZ Company had a net income of $100,000 and reported the following account changes on its balance sheet: Accounts Receivable: $6,000 increase Accounts Payable: $2,000 increase Building: ...
In 2007, XYZ Company had a net income of $150,000 and reported the following: Depreciation expense: $21,000 Issuance of debt: $120,000 Loss on sale of equipment: $23,000 Purchase of building: $110...
In 2007, XYZ Company had a net loss of $160,000 and reported the following: Dividends paid: $40,000 Depreciation expense: $30,000 Increase in accounts payable: $15,000 Issuance of stock: $100,000 ...
In determining cash flow from operations, which of the following would be added to net income?
In determining cash flow from operations, which of the following would be an add-back to net income?
In most countries, the preparation of a __________________ is a common practice.
Issuing ten-year bonds will cause cash to ______________ .
Land acquired by issuing preferred stock would appear in which of the following sections of the cash flow statement?
Long-term investments sold for cash with a recognized gain would appear in which of the following sections of the cash flow statement?
New equipment purchased by issuing a long-term note payable would appear in which of the following sections of the cash flow statement?
On a cash flow statement, depreciation expense ________________.
On their income statement, XYZ Company reported $600,000 in sales, $320,000 in depreciation expense, $60,000 in income taxes, and $100,000 in other expenses. In addition, $80,000 of common stock wa...
Paying cash to retire preferred stock will cause cash to ______________ .
Paying previously declared dividends will cause cash to ______________ .
Pre-paying a one-year insurance policy will cause cash to ______________ .
Preferred stock converted into common stock would appear in which of the following sections of the cash flow statement?
Preferred stock issued for cash would appear in which of the following sections of the cash flow statement?
Prepaid rent that increased during the year would appear in which of the following sections of the cash flow statement?
Purchasing inventory with a check will cause cash to ______________ .
Recording a depreciation expense will cause cash to ______________ .
Salaries paid during the year would appear in which of the following sections of the cash flow statement?
The acquisition of a building and/or land by entering into a lease that meets the capital lease criteria would appear in which of the following sections of the cash flow statement?
The acquisition of a patent would be shown __________________.
The amortization of a recorded patent would appear in which of the following sections of the cash flow statement?
The major components of a cash flow statement are ________________________.
The most popular method of presenting cash from operations in a cash flow statement is the _________________.
The sale of equipment for cash with a recognized loss would appear in which of the following sections of the cash flow statement?
The use of a bond sinking fund to retire a long-term debt at maturity would appear in which of the following sections of the cash flow statement?
Treasury stock purchased for cash would appear in which of the following sections of the cash flow statement?
Treasury stock sold for an amount greater than its repurchase price would appear in which of the following sections of the cash flow statement?
Unearned revenue that had been reduced during the year would appear in which of the following sections of the cash flow statement?
Warranties payable that increased during the year would appear in which of the following sections of the cash flow statement?
When determining cash flow from operations, which of the following would be a deduction from net income?
When determining cash flow from operations, which of the following would be added back to net income?
When determining cash flow from operations, which of the following would NOT be added back to net income?
When determining cash flow from operations, which of the following would NOT be deducted from net income?
When preparing cash flow statements, the practice of presenting cash from operations by listing all cash-generating revenues followed by all cash expenses is called the ______________.
Which of the following is NOT a characteristic of growing firms?
Which of the following statements about depreciation expense is true?
Which of the following statements does NOT illustrate a proper interpretation of information in a cash flow statement?
Which of the following statements expresses the objective of a cash flow statement?
Which of the following transactions would be shown as a cash flow from financing?
Which of the following transactions would be shown on a cash flow statement, but does not affect cash?
Which of the following typically happens during the growth phase of a product's life cycle?
Which of the following typically happens during the introduction phase of a product's life cycle?
Which of the following typically happens during the maturation phase of a product's life cycle?
Which of the following would be included in the investing section of a cash flow statement?
Which of the following would be shown in the financing section of a cash flow statement?
Which of the following would be shown in the investing section of a cash flow statement?
Which of the following would NOT be shown in the investing section of a cash flow statement?
XYZ Company reported the following information on its balance sheet: 01/01/07 Building: $800,000 Accumulated Depreciation: $200,000 12/31/07 Building: $785,000 Accumulated Depreciation: $225,000 I...
XYZ reported balances in the Accumulated Depreciation account of $130,000 on 01/01/07 and $120,000 on 12/31/07. During 2007, an asset costing $100,000 (with an accumulated depreciation of $80,000) ...