Exam (elaborations)
FINC 300 Quiz 2 Questions And Answers Latest Update
- Course
- FINC 300
- Institution
- American Military University
FINC 300 Quiz 2 Questions And Answers Latest Update
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Solution 2024/2025Pepper
FINC 300 Quiz 2 Questions And Answers Latest
Update
Owners equity increases each period by the amount of the corporation's
positive net cash flow.
T/F ANS✔✔ False
Under current accounting rules, the plant and equipment account shows the
historical cost (purchase price) of, plus any subsequent improvements to,
the plant and equipment.
T/F ANS✔✔ True
The retained earnings balance on IBM's balance sheet at the end of 2010 is
equal to IBM's 2010 net income minus dividends paid in 2010.
T/F ANS✔✔ False
(Analyzing
a statement of cash flows) Interpret the information in the popup window,
LOADING..., regarding Maness Corporation's statement of cash flows.
Question content area bottom
Part 1
Which of the following statements are true? (Select all the choices that
apply.)
A.
Maness had three uses for cash flow which contributed to a reduction in its
cash balance for the year.
, Solution 2024/2025
Pepper
B.
Maness Corporation ended the year with a higher cash balance than it had
at the beginning of the year.
C.
Maness Corporation had negative cash flows from operations and the firm
was increasing its fixed assets.
D.
Maness Corporation used some of its cash to retire long-term debt and
repurchase stock. ANS✔✔ A C D
What information does a firm's statement of cash flows provide to the
viewing public?
Question content area bottom
Part 1
A.
a report of revenues and expenses for a defined period of time
B.
a report of investments made and their cost for a specific period of time
C.
a report documenting a firm's cash inflows and cash outflows from
operating, financing, and investing activities for a defined period of time
D.
an itemization of all of a firm's assets, liabilities, and equity for a defined
period of time ANS✔✔ C
A company with negative net income will also have negative operating cash
flow.
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