44. Compared to the accrual basis of accounting, the cash basis of accounting overstates income during the accounting period by the net increase of the

A. Accounts receivable, Yes; Accrued expenses payable, Yes

B. Accounts receivable, Yes; Accrued expenses payable, No

C. Accounts receivable, No; Accrued expenses payable, Yes

D. Accounts receivable, No; Accrued expenses payable, No

E. Accounts receivable, Yes; Accrued expenses payable, Yes

45 - 47. Identify the following activity pertaining to the statement of cash flows on the direct method. Cash collections from customers A. Operating activity

B. Investing activity

C. Financing activity

D. Noncash investing and financing activity

E. Not reported on statement of cash flows

46. (connected to question above) Identify the following activity pertaining to the statement of cash flows on the direct method. Acquisition of equipment by issuance of note payable

A. Operating activity

B. Investing activity

C. Financing activity

D. Noncash investing and financing activity

E. Not reported on statement of cash flows

47. (connected to questions above) Identify the following activity pertaining to the statement of cash flows on the direct method. Issuance of bonds payable for cash

A. Operating activity

B. Investing activity

C. Financing activity

D. Noncash investing and financing activity

E. Not reported on statement of cash flows