c ANSWER: Purchased inventory on account c ANSWER: Purchased land for cash b ANSWER: Borrowed cash using a long-term note a ANSWER: Borrowed cash using a six-month note c ANSWER: Collected an account receivable c ANSWER: From the following list, select the proper section from the statement of cash flows in which it would be classified. Operating Activities Investing Activities Financing Activities Purchased equipment for cash b ANSWER: Received cash from the sale of a building b ANSWER: Paid a cash dividend on capital stock c ANSWER: Received cash from bond issuance c ANSWER: Paid income taxes a ANSWER: Received cash from selling goods to customers a ANSWER: Sold equipment no longer used in the business b ANSWER: Paid suppliers cash for inventory purchased a ANSWER: In preparing financial statements, accountants should consider all of the following except: The objectives of financial reporting.
ANSWER: c Purchased inventory on account ANSWER: c Purchased land for cash ANSWER: b Borrowed cash using a long-term note ANSWER: a Borrowed cash using a six-month note ANSWER: c Collected an account receivable ANSWER: c From the following list, select the proper section from the statement of cash flows in which it would be classified. Operating Activities Investing Activities Financing Activities Purchased equipment for cash ANSWER: b Received cash from the sale of a building ANSWER: b Paid a cash dividend on capital stock ANSWER: c Received cash from bond issuance ANSWER: c Paid income taxes ANSWER: a Received cash from selling goods to customers ANSWER: a Sold equipment no longer used in the business ANSWER: b Paid suppliers cash for inventory purchased ANSWER: a In preparing financial statements, accountants should consider all of the following except: The objectives of financial reporting.
Downloadable-Test-Bank-for-Financial-Accounting-The-Impact-on-Decision-Makers-9th-Edition-Porter-1.docx