Download 30 mcq condi corporation sells $100,000

Question 18 of 30 3.3334 Points Collins Corporation reported net income of $35,000; depreciation expenses of $20,000; an increase in Accounts Payable of $2,000; and an increase in Accounts Receivable of $3,000. Net cash flow from operating activities using the indirect method is: A. $56,000.

B. $55,000.

C. $54,000.

D. $50,000.

Question 19 of 30 3.3334 Points If $12,000 was generated from operations, $6,000 was used for investing activities, and $4,000 was provided by financing activities, the cash balance would: A. increase by $2,000.

B. increase by $14,000.

C. increase by $10,000.

D. decrease by $20,000.

Question 20 of 30 3.3334 Points The accuracy of the statement of cash flows, regardless of method used, can be verified by computing the change in the balance of: A. revenue.

B. equity.

C. liabilities.

D. cash.

Question 21 of 30 3.3334 Points The statement of cash flows provides information about all of the following except: A. operating activities.

B. financing activities.

C. investing activities.

D. organizing activities.

Question 22 of 30 3.3334 Points Activities that pay and collect interest on loans are: A. financing and investing activities.

B. operating and financing activities.

C. marketing activities.

D. operating and investing activities.

Question 23 of 30 3.3334 Points Many accountants prefer which method of computing cash flow from operating activities?

A. Direct method B. Indirect method C. Combination method D. Adjusting method Question 24 of 30 3.3334 Points The sale of plant and equipment for cash would result in: A. a decrease subtracted from net income from operations.

B. a decrease in cash from investing activities.