$10-$ investing activities include $($a$)$ the purchase and sale of long$-$term assets, $($b$)$ the

purchase and sale of short$-$term investments, and $($c$)$ lending and collecting on loans.

True or false

$11-$ The statement of cash flows reports all but which of the following:

a$.$ Cash flows from investing activities.

b$.$ Cash flows from operating activities.

c$.$ Significant noncash financing and investing activities.

d$.$ Cash flows from financing activities.

e$.$ The financial position of the company at the end of the accounting period

$12-$ To be classified as a cash equivalent, the only criterion an item must meet is that

it must be readily convertible to a known amount of cash.

True or false

$13-$ A company's transactions with its creditors to borrow money and$/$or to repay

the principal amounts of both short$-$ and long$-$term debt are reported as cash flows

from:

A$.$ Operating activities.

b$.$ Financing activities.

c$.$ Investing activities.

d$.$ Direct activities.

e$.$ Indirect activities

$14-$ Activities that involve the production or purchase of merchandise and the sale of

goods and services to customers, including expenditures related to administering the

business, are classified as:

A$.$ Direct activities.

b$.$ Indirect activities.

c$.$ Investing activities.

d$.$ Operating activities.

e$.$ Financing activities.