ACC 556 ASSIST Learn by Doing/acc556assist.com ACC 556 ASSIST Learn by Doing/acc556assist.com | Page 29
All of the following statements are true regarding cash flow
presentations except
Question 20
For each of the following items, indicate by using the appropriate code
letter, how the item should be reported in the statement of cash flows,
using the indirect method.
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ACC 556 Chapter 10 Quiz (100% Score)
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Chapter 10 Quiz
Question 1
A current liability must be paid out of current earnings.
Question 2
Most notes are not interest bearing.
Question 3
Unearned revenues are received before goods are delivered or services
are rendered.
Question 4
The carrying value of bonds is calculated by adding the balance of the
Discount on Bonds Payable account to the balance in the Bonds
Payable account.
Question 5