Financial Accounts

1. (TCO A, B, C) Which type of corporate information is not available to investors? (Points : 3)

Dividend history

Forecast of cash needs for the upcoming year

Cash provided by investing activities

Beginning cash balance

2. (TCO C) Debt securities sold to investors that must be repaid at a particular date some years in the future are called: (Points : 3)

accounts payable.

notes receivable.

taxes payable.

bonds payable.

3. (TCO C) The statement of cash flows would disclose the payment of a dividend: (Points : 3)

nowhere on the statement.

in the operating activities section.

in the investing activities section.

in the financing activities section.

4. (TCO A) The cost of assets consumed or services used is also known as: (Points : 3)

a revenue.

an expense.

a liability.

an asset.

5. (TCO C) Jamie Company recorded the following cash transactions for the year:

Paid $70,000 for salaries.

Paid $20,000 to purchase office equipment.

Paid $6,000 for utilities.

Paid $7,000 in dividends.

Collected $130,000 from customers.

What was Jamie's net cash provided by operating activities? (Points : 3)

$47,000

$54,000

$27,000

$33,000

6. (TCO A) In a classified balance sheet, assets are usually classified as: (Points : 3)

current assets; long-term assets; property, plant, and equipment; and tangible assets.

current assets; long-term investments; property, plant, and equipment; and common stocks.

current assets; long-term investments; and tangible assets.

current assets; long-term investments; property, plant, and equipment; and intangible assets.

7. (TCO A) Which of the following should not be classified as a current asset? (Points : 3)

Supplies

Short-term Marketable securities

Prepaid insurance that will expire next year.

A Note Receivable...