ACCT 312 Week 7 Quiz Answers\t\u00a0\t1. (TCO 8) Which is reported as an operating activity in the statement of cash flows? (Points : 10)\t\u00a0\t2. (TCO 8) Using the direct method, cash received from customers is calculated as sales (Points : 10)\t\u00a0\t3. (TCO 8) Which is not reported as an adjustment to net income when using the indirect method of computing net cash flows from operating activities? (Points : 10)\t\u00a0\t4. (TCO 8) A loss on the sale of machinery should be reported in the statement of cash flows as (Points : 10)\t\u00a0\t5. (TCO 8) Each year, our company prepares a reconciliation schedule that compares its income statement with its statement of cash flows on both the direct and indirect method bases. In its 2013 income statement, our company reported $29,000 for insurance expense. It paid $36,000 in insurance premiums during 2013. In its reconciliation schedule, our company should (Points : 10)<\/p>\n","protected":false},"excerpt":{"rendered":"
ACCT 312 Week 7 Quiz Answers \u00a0 1. (TCO 8) Which is reported as an operating activity in the statement of cash flows? (Points : 10) \u00a0 2. (TCO 8) Using the direct method, cash received from customers is calculated Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-200806","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=200806"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200806\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=200806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=200806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=200806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}