A few question in accounting (correction please!) HELP!?

cash flow statement replaced accounting statement?
a. profit , loss statement
b.the statement of changes in financial position
c. statement of owner's equity
d. income statement
( know that... cash flow shows money coming in , out of firm
operating, financing, , investing sections)

purchase of land cash reported on statement of cash flows
a. source of cash operating activities.
b. use of cash investing activities.
c. source of cash financing activities.
d. use of cash financing activities.

1 of following items classified investing activity?
a. cash receipts interest revenue
b. cash payments purchase property
c. additional investment in company owner
d. receipts of cash customers payment on accounts
( think b)

difference between “net operating income” , “gross profit on sales” net operating income
a. includes amounts “other income” section of income statement.
b. same thing gross profit on sales, , therefore there’s no difference.
c. includes deductions operating expenses.
d. includes deductions “other expenses.”
( think c)

financial statements report financial data either period of time or particular date. of following financial statements reports financial information particular date.
a. balance sheet
b. cash flow statement
c. income statement
d. both balance sheet , income statement

of following transactions cause increase in assets , increase in liabilities?
a. office supplies purchased cash.
b. john klein invests additional $2,000 in business.
c. merchandise inventory purchased on credit.
d. goods sold customer on account.

owner’s withdrawals may classified
a. uses of cash. c. sources of income.
b. sources of cash. d. additional expenses.
( think a)

of following transactions not affect company’s net income?
a. cash withdrawal owner
b. payment of employees’s salaries
c. services provided clients on account
d. interest earned on invested money

in preparation of income statement, accrual basis of accounting records
a. expenses when they’re incurred.
b. revenues when collections made on account.
c. cash sales during period.
d. cash expenses during period.

operating expenses of company include of
following except
a. wages paid employee.
b. rent paid landlord.
c. commissions earned salesperson.
d. cash withdrawn owner or owners.
( think d)

of following items reported in income statements?
a. cash flows c. assets , equities
b. owner’s investments d. revenues , expenses
( think d)

1 of following accounts not appear on balance sheet?
a. mortgage payable c. jack kapp, capital
b. interest expense d. notes receivable
( picked b)

appreciated

the cash flow statement replaced accounting statement? a. profit , loss statement b.the statement of changes in financial position c. statement of owner's equity d. income statement ( know that... cash flow shows money coming in , out of firm operating, financing, , investing...

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