Question
64. A building with a book value of $ 45,000 is sold for $50,000 cash. Using the indirect method , this transaction should be shown
64. A building with a book value of $ 45,000 is sold for $50,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
a. | an increase of $45,000 from investing activities |
b. | an increase of $50,000 from investing activities and a deduction from net income of $5,000 |
c. | an increase of $50,000 from investing activities |
d. | an increase of $45,000 from investing activities and an addition to net income of $5,000 |
____ 65. The numerator used to calculate accounts receivable turnover is
a. | total sales |
b. | net sales |
c. | accounts receivable at year-end |
d. | average accounts receivable |
____ 66. Which of the following listed below is generally the most useful in analyzing companies of different sizes
a. | comparative statements |
b. | common-sized financial statements |
c. | price-level accounting |
d. | audit report |
____ 67. The liability for a dividend is recorded on which of the following dates?
a. | the date of record |
b. | the date of payment |
c. | the date of announcement |
d. | the date of declaration |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started