Financial statement that shows how cash, as reflected in accrual accounting, flows into and out of a company during a specific period of operation is called the:

a. income statement

b. balance sheet

c. statement of retained earnings

d. statement of cash flows

The balance sheet equation states that total assets =

a. total liabilities + depreciation

b. total liabilities + owners equity

c. owners equity + net income

d. owners equity + current liabilities

e. total liabilities + net income

Which one of the following is not considered to be a current asset?

a. cash

b. receivables

c. inventories

d. fixed assets

Which of the following is a use of cash?

a. a decrease in inventory

b. an increase in accrued liabilities

c. the sale of an asset for a gain

d. a drop in the amount owed on a bond

e. an increase in stock issued

Which of the following is a source of cash?

a. an increase in accounts receivable

b. a decrease in wages payable

c. the acquisition of land

d. an increase in the amount owed on a note payable

e. the repurchase of outstanding shares of stock