1. The purpose of the statement of * 1 point cash flows is to report the major items comprising cash receipts and cash payments during a period. O True O False 2. Investments must be within 6 * 1 point months of their maturity dates to be classified as cash equivalents. True O False 3. The statement of cash flows * 1 point explains the difference between the beginning and ending balances of cash and cash equivalents. True O False10. The full disclosure principle * 1 point requires that noncash investing and financing activities be disclosed in a separate schedule attached to the statement of cash flows, or in the accompanying notes. O True O False * 1 point 11. Burton purchased equipment for $150,000 by paying $50,000 and signing a $100,000 note payable. The entire transaction is disclosed to users on the statement of cash flows. True O False20:10 . LTE O Mail 7. On the statement of cash flows, * 1 point business operations are classified as operating, investing, or financing activities. True O False 8. Cash outflows to repurchase * 1 point shares is an example of a cash flow from a financing activity. O True O False 9. Financing activities include (a) * 1 point the purchase and sale of non- current assets, (b) the purchase and sale of trading investments, and (c) lending and collecting on loans. O True BO False docs.google.com4. Bank overdrafts repayable on * 1 point demand may be included in the cash and cash equivalent balance. True O False 5. Many business decisions are * 1 point based on cash flow evaluations. O True O False 6. The statement of cash flows * 1 point helps financial statement users evaluate a company's earnings performance at a point in time. True O False