1. Under ASPE all of the following would be reported in the financing activities section under the direct method statement of cash flows

except:

A.issuing a stock dividend

B.paying a cash dividend

C.issuing common shares

D.repurchase of shares

2.Geographic Enterprise's Inventory account decreased $37,500 and its Accounts Payable account (which relates solely to the purchase of merchandise) decreased $13,760 during the year. Geographic also reported sales of $856,000 and cost of goods sold of $597,600 during the same period. Geographic's payments to suppliers for inventory during the year were:

A.$573,860

B.$805,740

C.$648,860

D.$621,340

3.Cash collected from customers can be computed by the following formula:

A.ending accounts receivable minus beginning accounts receivable plus sales

B.beginning accounts receivable minus ending accounts receivable plus sales

C.beginning accounts receivable minus ending accounts receivable minus sales

D.ending accounts receivable plus beginning accounts receivable minus sales

4.Under ASPE all of the following might appear as adjustments to net income on an indirect method statement of cash flows

except:

A.an increase in Accounts Receivable

B.gain on sale of capital assets

C.payment of dividends

D.depreciation expense