21. A statement of cash flows reports revenue and expense activities for a specific time period such as one month or one year. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 22. It is not unusual for an entity to report a significant increase in cash from operating activities, but a decrease in the total amount of cash. TRUE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 23. The statement of cash flows provides a link between two balance sheets by showing how net income (or loss) has changed owners' equity from one balance sheet date to the next. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 24. Articulation between the financial statements means that they relate closely to each other on the basis of the same underlying transaction information. TRUE
21. A statement of cash flows reports revenue and expense activities for a specific time period such as one month or one year. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 22. It is not unusual for an entity to report a significant increase in cash from operating activities, but a decrease in the total amount of cash. TRUE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 23. The statement of cash flows provides a link between two balance sheets by showing how net income (or loss) has changed owners' equity from one balance sheet date to the next. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-06 Explain how the statement of cash flows presents the change in cash for a period of time in terms of the company's operating; investing; and financing activities. Topic: Statement of Cash Flows 24. Articulation between the financial statements means that they relate closely to each other on the basis of the same underlying transaction information. TRUE
Test-Bank-for-Financial-Accounting-16th-Edition-by-Williams.docx