Question:

More accounting help! :-)?

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Hey I'm back again with some more questions!

1. Cash paid for equipment would be reported in the statement of cash flows in ________.

a) the cash flows from operating activities section

b) the cash flows from financing activities section

c) the cash flows from investing activities section

d) a seperate schedule

2. If accounts payable have increased during a period

a) revenues on an accrual basis are less than revenues on a cash basis

b) expenses on an accrual basis are less than expenses on a cash basis

c) expenses on an accrual basis are the same as expenses on a cash basis

d) expenses on an accrual basis are greater than expenses on a cash basis

3. Income tax was $400,000 for the year. Income tax payable was $30,000 and $40,000 at the beginning and end of the year. Cash payments for income tax reported on the cash flow statement using the direct method is _______.

a) 400,000

b) 390,000

c) 430,000

d) 440,000

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1 ANSWERS


  1. 1.a

    2.b

    3.don't know

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