1.True or false..... Current Asset categories on the BS are listed in order of liquidity, with the least liquid listed first.

-True

-False

2.True or false..... Liability categories on the BS are listed in order of payment, with the soonest to be paid first.

-True

-False

3.True or false: To an organization, Assets are what is owned - Liabilities are what is owed.

-True

-False

4.True or false..... Accounts Receivable are what the organization owes to its suppliers

-True

-False

5.True or false..... Short term debt is all debts that must be paid back within the next 2 years

-True

-False

6.True or false ..... Owner's Equity is made up of 3 parts: common shares valued at current market price, preferred shares valued at original issue price, and retained earnings.

-True

-False

7.True or false..... Long term assets are listed on the BS net of depreciation

-True

-False

8.True or false.... The SCF estimates cash receipts and expenses/outflows within the next year

-True

-False

9.The three main categories in a SCF are

-cash from net income, financing and investing activities

-cash from operations, financing and investing activities

-cash from net income, balance sheet and investing activities

-all of the above

10.Dividend payments are shown in

-Cash from/used in Operations

-Cash from/used in Financing Activities

-Cash from/used in Investing Activities