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. ===================================================================================== ACC 556 Chapter 10 Quiz (100% Score) FOR MORE CLASSES VISIT www.acc556assist.com 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