Which of the following is presented in the activities section of the Statement of Cash Flows?

Purchase of a treasury bill three months before its maturity date.

Exchange differences from translating foreign currency denominated cash flows.

Acquisition of equipment through issuance of short-term notes payable.

Bank overdraft that can be offset.

In the Statement of Cash Flows of a non-financial institution, interest income received is presented under
a)	Operating activities	d)	A or B
b)	Financing activities	e)	A or C
c)	Investing activities

Which of the following statements is correct?

I	Accounting provides qualitative information, financial information, and quantitative information.
II	Qualitative information is found in the notes to the financial statements only.
III	Accounting is considered an art because it is supported by an organized body of knowledge.
IV	Accounting is considered a science because it involves the exercise of skill and judgment.
V	Measurement is the process of assigning numbers to objects such as inventories or plant assets and to events
	such as purchases or sales.
VI	All quantitative information is also financial in nature.
VII	The accounting process of assigning peso amounts or numbers to relevant objects and events is known as
	identification.
a)	I and V
b)	I , II, VI and V

c)	I, II, III, IV and VII
d)	II, VI, and V

PAS 8 - Changes in accounting policies, estimates and errors
16	These arise from misapplication of accounting policies, mathematical mistakes, oversights or
			misinterpretations of facts.
		a)	Errors c) Change in accounting policy
		b)	Change in accounting estimates d) Impracticable application