ACCOUNTING 202 TEST 1 OLE MISS / Accounting 202 Test 1 Study Guide | Ole Miss ACCT 202 Review

ACCOUNTING 202 TEST 1 OLE MISS /
Accounting 202 Test 1 Study Guide | Ole Miss
ACCT 202 Review




Statement of cash flows - ---✔✔✔ANSWER----reports cash receipts
(inflows) and cash payments (outflows) during a period.



Cash and Cash Equivalents - ---✔✔✔ANSWER----cash flows include both
_________ and ___________



Operating Activities - ---✔✔✔ANSWER----includes transactions and events
that affect net income, examples are the purchase of inventory, sale of goods and
service, and expenditures to operate a business



net income, depreciation, losses, gains, current assets, current liability - ---
✔✔✔ANSWER----What accounts are included in cash flow operation


added - ---✔✔✔ANSWER----if there is a loss on a cash flow statement is it
added or subtracted

, subtracted - ---✔✔✔ANSWER----if there is a gain on a cash flow statement
is it added or subtracted



added - ---✔✔✔ANSWER----a decrease in current assets on a cash flow
statement is added or subtracted



subtracted - ---✔✔✔ANSWER----an increase in current assets on a cash
flow statement is added or subtracted



added - ---✔✔✔ANSWER----an increase in current liabilities on a cash
flow statement is added or subtracted



subtracted - ---✔✔✔ANSWER----a decrease in current liabilities on a cash
flow statement is added or subtracted



investing activities - ---✔✔✔ANSWER----Includes cash transactions
involving the purchase and sale of long-term assets and current investments



Financing Activities - ---✔✔✔ANSWER----includes transactions and events
that affect long term liabilities and equity