CHOOSE THE BEST ANSWER. NEED HELP, EXPLANATION NEEDED, THANK YOU!

II CHOOSE BEST ANSWER (54puntos) 1) Which of the following is not used in the preparation of Cash Flow Statement? a) Adjusted Reconciliation Balance. b) Comparative Balance Sheet c) Current Income Statement d) Additional information 2) The following statement is true: a) Discontinued Operations refers to the elimination of a significant segment of the business. b) Extraordinary Items are rare events that do not occur frequently. c) An example of a change in accounting principle occurs when LIFO is used in the current year to value inventory and FIFO was used in the previous year. d) All of the above. 3) The main purpose of the Cash Flow Statement is: a) Provide information on Financing Activities and Investing Activities during the accounting period b) Prove that if there is a Net Income it is because the income is greater than the expenses. c) Provide information on the receipt and disbursement of cash during the accounting period d) Facilitate relations with the bank. 4) The Cash Flow Statement will not include: a) The number of checks in circulation at the end of the accounting period. b) The sources of cash during the accounting period c) The uses of cash during the accounting period d) The change in the cash balance during the accounting period. 5) The acquisition of Land in exchange for common shares is: a) A transaction that does not involve cash and therefore is not included in the body of the Cash Flow Statement. b) A cash transaction that is included in the body of the Cash Flow Statement. c) A transaction that does not involve cash and is therefore included in the Cash Flow Statement direct method. d) It is included in the Cash Flow Statement only if it is prepared using the 6) Financing Activities include: a) Lend money. b) Acquire investments. c) Issuance of bonds d) Acquisition of long-term assets