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Question 11.Why do business owners depend on the income statement?
Question 22.The balance sheet is a part of which of the following?
Question 33.What's the difference between negative cash flow and positive cash flow?
Question 44.What is the section of the statement of cash flows that includes activities that occur during the normal day-to-day operations of a company?
Question 55.On which financial statement is cash flow reported?
Question 66.Which of the following is the equation used for the basic income statement?
Question 77.What is the difference between a Statement of Cash Flows and Income Statement?
Question 88.Why might potential investors and creditors look at a company's financial statements?
Question 99.What is the balance sheet equation?
Question 1010.Which of the sections of the statement of cash flows includes activities that involve cash receipts or cash payments from changes on long-term liabilities?
Question 1111.What financial report can help you figure out how well a company is managing its money?
Question 1212.If an investor wanted to see how much money was maintained and reinvested in the company, which financial statement would give that information?
Question 1313.Assets, liabilities and owner's equity are reported on which financial statement report?
Question 1414.Using the image of the balance sheet, what is this company's current ratio?
Question 1515.How can money be brought into a company?
Question 1616.Calculate this company's quick ratio using the balance sheet image.
Question 1717.Which of the following are things that you own?
Question 1818.What are financial statements?
Question 1919.You work as an accountant for a small business. The owner of the company has asked you to give her the operating cash flow for the company for the fiscal quarter that just ended. Upon review of of the relevant documents, you determine that the company's earnings before taxes and interest for the quarter was $230,000, it depreciated $5,000 worth of equipment and has paid estimated taxes of $20,000. There was no amortization. What is the operating cash flow for the last quarter?
Question 2020.What are the standards that all financial reports are created by?
Question 2121.There are five basic _____ which are calculated using information found in the balance sheet and income statement that are measures of the productivity and efficiency of a business.
Question 2222.Which of the following gives more detail on a section of the balance sheet?
Question 2323.What financial report tells you if the company suffered a loss or earned a profit?
Question 2424.Using the image of the balance sheet, what is this company's debt-to-assets ratio?
Question 2525.What is the statement of cash flows?
Question 2626.The _____ of a company denotes the amount of money that was paid out.
Question 2727.Which of the following is a reason why the statement of cash flows is important to users of financial statements?
Question 2828.Explain the purpose of an income statement.
Question 2929.The statement of cash flows is broken down into how many activities?
Question 3030.As the CFO of Acme Machinery, Kay is concerned that their cash flow is being impacted by the amount of money they are spending on expensive pieces of equipment. Should Kay look at their free cash flow or net cash flow, and why?
Financial Reporting Chapter Exam Instructions
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