Mohammed El Barri Quiz Part 2
Quiz
•
Science
•
2nd Grade
•
Hard

wedad almahawiti
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
On July 15, a company entered into a three-month agreement to rent a machine the company needed to complete a special order. The machine would be delivered on August 1, and rental payments are due on the first day of each rental month. The effect this event would have on the company’s July 31 financial statements would be to
cause no change in assets, liabilities, or income.
increase both assets and income.
increase both assets and liabilities.
increase liabilities and decrease income.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bertram Company had a balance of $100,000 in Retained Earnings at the beginning of the year and $125,000 at the end of the year. Net income for this time period was $40,000. Bertram’s Statement of Financial Position indicated that Dividends Payable had decreased by $5,000 throughout the year, despite the fact that both cash dividends and a stock dividend were declared. The amount of the stock dividend was $8,000. When preparing its Statement of Cash Flows for the year, Bertram should show Cash Paid for Dividends as
$20,000
$15,000.
$12,000
$5,000
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Dividends paid to company shareholders would be shown on the statement of cash flows as
operating cash inflows.
operating cash outflows.
cash flows from investing activities.
cash flows from financing activities.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following are classifications on the statement of cash flows except
operating activities.
equity activities.
investing activities.
financing activities.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The most commonly used method for calculating and reporting a company’s net cash flow from operating activities on its statement of cash flows is the
direct method.
indirect method.
single-step method.
multiple-step method.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A company has a fixed overhead volume variance that is $10,000 unfavorable. The most likely cause for this variance is that
the production supervisory salaries were greater than planned.
the production supervisory salaries were less than planned.
more was produced than planned.
less was produced than planned.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
During a conference call with a financial analyst, the CFO was asked to comment on notable aspects of the income statement. Which one of the following statements is correct?
Gross profit rose by 25% with an 11% rise in operating expenses.
Higher revenue with a better gross margin led to a 200% increase in operating profit.
The 19% increase in revenue was leveraged into a 25% increase in gross profit.
Operating profit doubled as a 23% increase in revenue led to 33% higher gross profit.
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