1. The change in Non-Current Liabilities would usually be explained in which section of the Statement of Cash Flow

Select one:

a. The Investing Cash Flow Section

b. The Movements in non-Cash Current Assets and Current Liabilities section

c. The Financing Cash Flow Section

d. The Operating Cash Flow Section

e. None of these answers

2.Cash is defined as all Cash holdings plus marketable short-term securities with an expected maturity of:

Select one:

a. Four months or more

b. None of these answers

c. 12 months or less

d. Three months or less

e. 6 month or less

3. Any major (i.e., material) non-cash transactions undertaken by the firm should be:

Select one:

a. Reported as a movement in cash

b. Disclosed in the notes to the financial statements

c. Disclosed only to the financial press and other media such as CNBC

d. Considered irrelevant and ignored

e. None of these answers

4.When Net Income is greater than Cash Flow to/from Operating Activities it means that:

Select one:

a. Cash Flow to/from Operating Activities is overstated

b. None of these answers

c. Net Income is Understated

d. Net Income is overstated

e. Cash Flow to/from Operating Activities is understated