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In a statement of cash flows, which of the following would
increase reported cash flows from operating activities using the
direct method? (Ignore income tax considerations.)
Question 8
White Co. wants to convert its 2001 financial statements from
the accrual basis of accounting to the cash basis. Both supplies
inventory and office salaries payable increased between
January 1, 2001, and December 31, 2001.To obtain 2001 cash
basis net income, how should these increases be added to or
deducted from accrual basis net income?
Question 9
A company is an accelerated filer that is required to file Form
10-K with the United States Securities and Exchange
Commission (SEC). What is the maximum number of days
after the company's fiscal year end that the company has to file
Form 10-K with the SEC?
Question 10
During the current year, Ace Co. amortized a bond discount.
Ace prepares its statement of cash flows using the indirect
method. In which section of the statement should Ace report
the amortization of the bond discount?
Question 11
Which of the following statements is correct regarding
reporting comprehensive income?