Question 1

Which of the following statements regarding cash equivalents is correct?

Accepted Answer

A) A one-year Treasury note could not qualify as a cash equivalent. 
B) All investments meeting the FASB's criteria for cash equivalents must be reported as such. 
C) The date a security is purchased determines its "original maturity" for cash equivalent classification purposes. 
D) Once established, management's policy for classifying items as cash equivalents cannot be changed. 
A) A one-year Treasury note could not qualify as a cash equivalent. 
B) All investments meeting the FASB's criteria for cash equivalents must be reported as such. 
C) The date a security is purchased determines its "original maturity" for cash equivalent classification purposes. 
D) Once established, management's policy for classifying items as cash equivalents cannot be changed.

Question 2

During 2014,Stewart Company reported revenues on an accrual basis of $70,000.Accounts receivable decreased during the year from $35,000 at the beginning to $24,500 at the end.How much cash was provided by collections from customers during the year?

Accepted Answer

A) $45,500 
B) $59,500 
C) $70,000 
D) $80,500 
A) $45,500 
B) $59,500 
C) $70,000 
D) $80,500

Question 3

Which of the following would be an example of an investing activity?

Accepted Answer

A) Issuance of long-term bonds 
B) Issuance of common stock 
C) Payment of cash dividends 
D) Sale of plant assets 
A) Issuance of long-term bonds 
B) Issuance of common stock 
C) Payment of cash dividends 
D) Sale of plant assets

Which of the following statements regarding cash equivalents is correct?

During 2014,Stewart Company reported revenues on an accrual basis of $70,000.Accounts receivable decreased during the year from $35,000 at the beginning to $24,500 at the end.How much cash was provided by collections from customers during the year?

Which of the following would be an example of an investing activity?

Financial Reporting

A Review of the Accounting Cycle

The Balance Sheet and Notes to the Financial Statements

The Income Statement

Earnings Management

The Revenuereceivablescash Cycle

Revenue Recognition

Inventory and Cost of Goods Sold

Investments in Noncurrent Operating Assets-Acquisition

Investments in Noncurrent Operating Assets-Utilization and Retirement

Debt Financing

Equity Financing

Investments in Debt and Equity Securities

Leases

Income Taxes

Employee Compensation-Payroll,pensions, Other Compissues

Earnings Per Share

Derivatives, contingencies, business Segments, and Interim Reports

Accounting Changes and Error Corrections

Statement of Cash Flows Revisited

Accounting in a Global Market

Analysis of Financial Statements

Filters

Exam 5: Statement of Cash Flows and Articulation

Which of the following statements regarding cash equivalents is correct?

During 2014,Stewart Company reported revenues on an accrual basis of $70,000.Accounts receivable decreased during the year from $35,000 at the beginning to $24,500 at the end.How much cash was provided by collections from customers during the year?

Which of the following would be an example of an investing activity?

Financial Reporting

A Review of the Accounting Cycle

The Balance Sheet and Notes to the Financial Statements

The Income Statement

Earnings Management

The Revenuereceivablescash Cycle

Revenue Recognition

Inventory and Cost of Goods Sold

Investments in Noncurrent Operating Assets-Acquisition

Investments in Noncurrent Operating Assets-Utilization and Retirement

Debt Financing

Equity Financing

Investments in Debt and Equity Securities

Leases

Income Taxes

Employee Compensation-Payroll,pensions, Other Compissues

Earnings Per Share

Derivatives, contingencies, business Segments, and Interim Reports

Accounting Changes and Error Corrections

Statement of Cash Flows Revisited

Accounting in a Global Market

Analysis of Financial Statements

Filters