Copy and Edit

statement of cash flow - QUIZ

Description

Quiz for purpose and elements of cash flow statement
kandiewhitehead
Quiz by kandiewhitehead, updated more than 1 year ago
kandiewhitehead
Created by kandiewhitehead about 9 years ago
170
0
0

Resource summary

Question 1

Question
Which of the following options is not a component of a statement of cash flow?
Answer
  • financing
  • investing
  • auditing

Question 2

Question
Operating activities for a statement of cash flow include other activities that are not investing or financing activities. Taxes paid/received are classified as operating activities.
Answer
  • True
  • False

Question 3

Question
Which of the following statements best describe the main purpose of a statement of cash flow?
Answer
  • The main purpose is to provide information about a companies gross receipts/payments for a specified time.
  • The main purpose is to understand the trends of a companies performance.

Question 4

Question
An element of reporting cash flow from operating activities is the direct method. Which of the following is not classified by the direct method?
Answer
  • Cash received
  • Taxes paid
  • Interest paid
  • undistributed profits

Question 5

Question
Cash flows should be reported as net.
Answer
  • True
  • False

Question 6

Question
An element of a cash flow statement is financing activities. Which best describes financing activities?
Answer
  • Activities that cause changes to equity.
  • Activities that cause changes to assets.

Question 7

Question
Investing activities within a cash flow statement are activities that relate to long-term assets and other investments, not included in cash equivalents.
Answer
  • True
  • False

Question 8

Question
Interest and Dividends can be classified as either of the 3 components (operating, financing or investing) as long as they are consistently treated from period to period.
Answer
  • True
  • False

Question 9

Question
With a statement of cash flow, which of the following needs to be considered?
Answer
  • non-cash investing transactions are not to be disclosed
  • foreign exchange transactions to be ignored
  • no disclosure required for acquisition and disposal of subsidiaries

Question 10

Question
Non-cash items such as depreciation, provisions, deferred taxes are classified as the indirect method of reporting cash flows from operating activities.
Answer
  • True
  • False
Show full summary Hide full summary

Want to create your own Quizzes for free with GoConqr? Learn more.

Similar

Statement of cash flow Flash cards
badloukbek
Set of Financial Statements
Sunia Abdal
Who are the main users of Financial Statements
David McGuinness
Financial Ratios
Liz Barraclough
The double entry bookkeeping system
Debs Seed
quiz
lorenzobellentan
Moda
lorenzobellentan
How accounting is recorded
rachaellouise18
Equality
camm85
PBKT
stephen.ainswort
Main purpose and element of the Statement of Cash Flow
Sophie Ann Jones
Browse Library