QUESTION 10 Sargeant Ventures reported 510.000 cash used in the operating cities section of the Statement of Cash Flowers and the following date depreciation expense 310,000: an accounts payable increase of $12,000 a $3.000 decrease in accounts receivable an increase in wages payable of $8.000: and a $15.000 gain on the sale of long-term investments Sargeant net income foss for the period was O A 528,000 loss. B. 338.000 loss C. 38.000 income D. $2.000 income QUESTION 11 Which of the following would be an example of a financing activity on the Statement of Cash Flows? A sale of equipment B. pet o landard Crepertoaletom another company Drect of interest on investments QUESTION 12 Which of the following is a deduction from net income when using the indirect coroach to Alors one of investments B rease in precedexpenses Dincrease in accounts payable QUESTION 13 The concept of tree cash row is to measure the amount of cash a A from coronati incess of cash red to company generes prove Coming e from its operations n excess of chromato productivity in below the cash red to maintain its productive capety QUESTION 14 corporation from investors or olders and thereum of resources to share Obtaining resources for A pregates dart of which of the Statement of Cash Fows? QUESTION 6 Baley Consulting, a Winnipeg based company that uses the contract-based approach to revenue recognition, has just signed a contract to complete a strategic plan for a local business. The five-step model Bailey Consulting should follow to recognize revenue should include ml of the following. except for O A Allocate the transaction price to performance obligations OB. Determine the transaction price o n the contrat D entify the performance obligations QUESTION 7 When a company reports net income financialement users see this A the company is viable O the company has the ability to sustain o the company has the ability to declaredvidends Dal of the above QUESTIONS For a contract to all of the following order must be met except for A It has been approved and the parties are com e to their obligations O must have comercial substance C ilegally forceable . .. tu commitment in the form of a depos QUESTIONS based approach for revenue recon Bec h piece of furniture i n manufactured, the company requires a contract prior to of the estimated cost of the fished before produsen begins Front Furniture Co should record the collection ass Frengo Fumure manufacturer of special tuture, and use the beginning the production process Contracters include a payment of Acredit cost of goods sold creditovat Ordre D e revenge