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When converting revenues and expenses to cash received and paid under the direct method of accounting for cash flows from operating activities, the changes in revenues and expenses caused by accruals and deferrals is classified asA) investing activitiesB) financing activitiesC) operating activitiesD) all of the above activities are affected by accruals and deferralsTypically, the largest, continuous cash inflow for a business will come from?A) Sale of our stock to investorsB) Bank loansC) Cash collected from customersD) Cash interest received on our investmentsWhich of the following would cause a cash outflow connected to investing activities?A) Purchased shares of stock in another company.B) Paid a dividend to our stockholders.C) Issued more shares of our company’s stock.D) Both A and B would cause an investing outflow.E) None of the above generates an investing cash outflow.Which of the following is used by financial analysts in forming a recommendation about whether a company’s stock should be sold, held or bought?A) Knowledge of alternative accounting methods used by companies in their financial statement preparationB) Information about the general economyC) Information Flow Coca about competitors within the industryD) Only B and C are usedE) All of the above are used .Which of the following would cause retained earnings to decrease?A) Sale of service on credit.B) Loss on disposal of equipment.C) Dividend declared by the board of directors.D) Both B and C cause retained earnings to decrease.E) All of the above make retained earnings decrease.If Coca-Cola’s accounts receivable balance was $1,973 million in 2004 and $1,814 million in 2003, the impact on the statement of cash flows would beA) An increase in cash flow from investing activities.B) A decrease in cash flow from operating activities.C) An increase in cash flow from operating activities.D) A decrease in cash flow from investing activities.E) None of the above.Which of the following activities would most likely cause the asset turnover ratio to increase?A) An increase in sales.B) Buying facilities instead of renting or leasing them.C) Decreasing inventories by implementing a Just-in-Time inventory system.D) Both A and C would cause the asset turnover ratio to increase.E) All of the above would cause the asset turnover ratio to increase.The collection of an account receivable from a customer wouldA) Increase liabilities.B) Decrease liabilities.C) Not affect liabilities.D) Decrease stockholders’ equity.E) None of the above is correctWhich of the following is/are criteria for recording a sale?A) Title and risks of ownership have been exchanged.B) The company is reasonably assured of collecting the receivable.C) The sales price has been fixed.D) Both A and B are correct.E) All of the above are correct.On January 1, 2007, Maplewood Corporation had the following balances in its stockholders’ equity accounts: Common stock, $100,000 (10,000 shares of $10 par value stock); contributed capital in excess of par, $20,000; and retained earnings, $50,000. During 2007, the company issued 2,000 additional shares of common stock for $15 per share, reported net income of $60,000 and paid cash dividends of $20,000. What amount of retained earnings would Maplewood Corporation report on its December 31, 2007 balance sheet?A) $110,000B) $90,000C) $210,000D) $240,000E) None of the above is correct.The advantage of shortening the length of the operating cycle isA) reduction of operating costsB) increased cash inflowC) increased profitsD) All of the above are advantagesE) None of the above is an advantage
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