Please answer with reason 59..........is the withdrawal of cash and goods by the owner of the business for his/her personal use A.Depreciation B.Drawings c.Outflow of cash D.Appreciation
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- Which one of the following affects cash during a period? Recording depreciation expense. Declaration of a cash dividend. Write-off of an uncollectible account receivable. Payment of accounts payable.Th e sale of a building for cash would be classifi ed as what type of activity on the cash fl ow statement? A . Operating.Which of the following is correct regarding cash basis of accounting? a. Sales include cash sales and collection of trade receivables. b. Purchases include cash purchases and payment of trade payables. c. All given statements are correct. d. Depreciation is recorded normally.
- 41. Realization of revenue occurs when a. the item is formally recorded and reported in the financial statements b. noncash resources are converted into cash or rights to cash c. the actual exchange of noncash resources into cash С. d. when a transaction is both realized and realizable 42.A revenue recognition method that recognizes revenue before the time of sale is a. percentage-of-completion b. installment c. cost recovery d. point of sale С.Which of the following statements about cash received prior to the recognition of revenue in the fi nancial statements is most accurate? Th e cash is recorded as: A . deferred revenue, an assetWhich of the following statements about cash received prior to the recognition of revenue in the fi nancial statements is most accurate? Th e cash is recorded as: B . accrued revenue, a liability.
- Under the cash basis of accounting, revenue is recordedA. when realized.B. when earned.C. when earned and realized.D. when earned and realizable.Th e sale of a building for cash would be classifi ed as what type of activity on the cash fl ow statement? C . Financing.Identify the asset from the following? A. Cash and Cash equivalents B. Creditors
- The process of payment of cash for expenditures is known as: O a. Disbursement O b. Expenditures O c. Payables O d. AppropriationWhich of the following is not a cash flow activity a. Payment of accounts payable b. Collection of accounts receivable c. Depreciation d. Cash withdrawal of the ownerIf the indirect method is used, which of the following items appears on a statement of cash flows? O A. Payments to suppliers OB. Depreciation expense OC. Collections from customers OD. Cash receipt of interest revenue