ACCT 1020, Test 2 Spring 2016 12. An investment that is readily convertible to a

Question

ACCT 1020, Test 2 Spring 2016 12. An investment that is readily convertible to a known amount of cash and is sufficiently close to its maturity date so that its mnarket value is relativoly insensitive to interest rate changes is n cash equiveent held-to-maturity necurity trading security equity security with significant influence 13 The indirect method of preparing the statenent of cash flows separately lists each major item or oporntinca canh r affects only the operating activities section of theo statement of cash flows separately liste each major item of operating cash payments d. l required if the company in n merchandiser 14. When preparin g a statement of cash flows using the indirect method, which of the following is correct? fhroooeds from the tates of quipment should be added to net Income in the operating activities section b. on the sale of land should be added to not income in the operating activities section The declaration of a cash dividend should be a use of cash in the c. d. The purchase of land and a building by issuing a long-term note payabl should be a source of cash in the financing activities section. A company reported that its bonds payable with a par value of $50,000 and a carrying value of $3,000. The amount of cash used in this activity is 5. $57,000 are retired for S60,000 cash, resulting in a loss of a. $3,000 b. $50,000 c. $57,000 d. $60,000 Traditional symbols for Easter include a. eggs b. pumpkins c. d. hamburgers all of the above Swanson Page 3 of 9

Explanation / Answer

Question - 12............... Option - A cash equivalent

Question - 13 ............Option - B

Question - 14 ............. Option - B

Question - 15 ...........Option - D

Question - 16 ...........Option - A

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