ACC 560 Week 10 Quiz (Chapter 13) Question 1 Indicate where the event purchase of land and a building with a mortgage would appear, if at all, on the indirect statement of cash flows. Question 2 Generally, the most important category on the statement of cash flows is cash flows from Question 3 Each of the following is an example of a significant noncash activity except Question 4 If a gain of $12,000 is incurred in selling (for cash) office equipment having a book value of $110,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is Question 5 Which of the following would not be an adjustment to net income using the indirect method? Question 6 Jean’s Vegetable Market had the following transactions during 2017: 1. Issued $50,000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $7,000. 5. Sold a long-term investment (cost $3,000) for cash of $6,000. 6. Acquired an investment in IBM stock for cash of $10,000. What is the net cash provided by financing activities? Question 7 The statement of cash flows should help investors and creditors assess each of the following except the Question 8 Significant noncash transactions would not include Question 9 In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is Question 10 Lending money and collecting the loans are
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