Cash Flow Statements Trivia Questions! Quiz

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  • 1/6 Questions

    A financial statement includes all of the following items: operating activities, financial activities, and investing activities. What financial statement is this? 

    • Balance Sheet
    • Statement of Cash Flows
    • Income Statement
    • Statement of Retained Earnings
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About This Quiz

This 'Cash Flow Statements Trivia Questions!' quiz assesses your understanding of cash flow statement components, including operating, investing, and financing activities. It is ideal for learners aiming to enhance their accounting skills and knowledge of financial statement analysis.

Cash Flow Statements Trivia Questions! Quiz - Quiz

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  • 2. 

    Debit means

    • Plus

    • Minus

    • Left

    • Right

    • Increase

    • Decrease

    Correct Answer
    A. Left
    Explanation
    In the case of assets, debits are "plus" but in the case of liabilities or shareholder's equity, debits are "minus." The word debit means only one thing: left.

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  • 3. 

    Debit means

    • Plus

    • Minus

    • Left

    • Right

    • Increase

    • Decrease

    Correct Answer
    A. Left
    Explanation
    In the case of assets, debits are "plus" but in the case of liabilities or shareholder's equity, debits are "minus." The word debit means only one thing: left.

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  • 4. 

    In a statement of cash flows, interest payments to lenders and other creditors should be classified as cash outflows for 

    • Operating Activities

    • Borrowing Activities

    • Lending Activities

    • Financing Activities

    • Investing Activities

    Correct Answer
    A. Operating Activities
    Explanation
    Although principal repayment falls under Investing Activities, the interest received or paid falls under Operating Activities.

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  • 5. 

    In a statement of cash flows, which of the following items is reported as a cash outflow from financing activities: I. Payments to retire mortgage notes; II. Interest payments on mortgage notes; III. Dividend payments

    • I, II and III

    • II and III

    • I only

    • I and III

    Correct Answer
    A. I and III
    Explanation
    Financing activities include the issuance of stock, the payment of dividends and other distributions to owners, treasury stock transactions, the issuance of debt, and the repayment of debt obligations. The payment of the principal of a mortgage note and the payment of dividends are outflows from financing activities.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 14, 2014
    Quiz Created by
    Whytranger
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