Quiz 2 : Chapter4-5 Total points 6/9

9-2-2021

The respondent's email ([email protected]) was recorded on submission of this

1. __________ a snapshot of the financial condition of the firm at a 0/1

A. The balance sheet provides

B. income statement provides

C. The statement of cash flows provides

D. All of the above provide

E. None of the above provides

Correct answer

A. The balance sheet provides

2. _________ of the cash flow generated by the firm's operations, 1/1

A. The balance sheet is a report

The B. The income statement is a report

C. The statement of cash flows is a report

D. the auditor's statement of financial condition

E. None of the above is a report

3. Information in the income statement helps users to * 1/1

a. evaluate the past performance of the enterprise.

b. provide a basis for predicting future performance.

c. help assess the risk or uncertainty of achieving future cash flows.

d. All of these.

4.The major elements of the income statement are * 1/1

a. revenue, cost of goods sold, selling expenses, and general expense.

b. operating section, nonoperating section, discontinued operations and cumulative

c. revenues, expenses, gains, and losses.

d. All of these.

5.Cash dividens paid to shareholders are classified on the statement of 1/1

a. Operating activities

b. Investing activities

c. A combination of (a) and (b)

d. Financing activities

6.Comprehensive income includes all of the following, except * 0/1

a. revenues and gains.

b. expenses and losses.

c. preference share dividends.

d. unrealized gains and losses on available-for-sale securities.

Correct answer

c. preference share dividends.

7.Gains or losses on the disposal of investments should be shown in the income

a. No No

b. Yes Yes

c. No Yes

d. Yes No

Opsi 5

8.In a statement of cash flows, receipts from sales of property, plant, and 1/1
equipment and other productive assets should generally be classified as
cash inflows from *

a. operating activities.

b. financing activities.

c. investing activities.

d. selling activities.

9.Which of the following events will appear in the cash flows from 0/1
financing activities section of the statement of cash flows?

a. Cash purchases of equipment.

b. Cash purchases of bonds issued by another company.

c. Cash received as repayment for funds loaned.

d. Cash purchase of treasury stock.

Correct answer

d. Cash purchase of treasury stock.

10.Which of the following is not required to be presented on the income 1/1

a. Revenue.

b. Other gains/losses.

c. Finance costs.

d. Tax expense.

This form was created inside of School of Business and Management ITB.

Forms