8) The accountant for Sysco company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year 819,000

Net Income for the year 230,000

Cash dividends declared for the year 42,000

Retained earning balance at the end of the year 1,007,000

Cash dividends payable at the end of the year 11,000

What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?

A. 42,000

B. 43,000

C. 63,000

D. 1,000

E. 41,000

9) A cash equivalent is:

A. An investment readily convertible to a known amount of cash.

B. Close to its maturity date buts its market value may still be affected by interest rate changes.

C. Generally within 3 years of its maturity date.

D. Is not considered highly liquid

E. Another name for cash

10. Which one of the following is an example of cash flows from operating activities?

A. Proceeds from collecting the principal amount of loans.

B. Repayment of principals on loans.

C. Proceeds from the issuance of bonds and notes payable.

D. Payments to acquire equity securities of other companies.

E. Receipts of cash from sales