1) The cash flow statement's primary purpose is to provide information ...
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Accounting
1) The cash flow statement's primary purpose is to provide information
about the changes in assets, liabilities, and owners' equity of an entity during a period.
about the cash receipts and cash payments of an entity during a period.
about the entity's ability to meet its obligations and to pay dividends.
that is useful in assessing future cash flow prospects.
2)
In a period of rising prices, the inventory method which tends to give the lowest reported cost of goods sold is
FIFO.
LIFO.
average cost.
None of these choices are correct.
3)
Which of the following statements is (are) true? (I) Company should add back realized gains to net income to arrive at net cash flow from operating activities. (II) Companies report the cash flows from purchases and sales of trading securities as cash flows from operating activities.
I only
II only
Both statements are true
Both statements are false
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