Which of the following statements is CORRECT?
A. The statement of cash flows reflects cash flows from operations, but it does not reflect the effects of buying or selling fixed assets.
B. The statement of cash flows shows where the firm's cash is located; indeed, it provides a listing of all banks and brokerage houses where cash is on deposit.
C. The statement of cash flows reflects cash flows from continuing operations, but it does not reflect the effects of changes in working capital.
D. The statement of cash flows reflects cash flows from operations and from borrowings, but it does not reflect cash obtained by selling new common stock.
E. The statement of cash flows shows how much the firm's cash--the total of currency, bank deposits, and short-term liquid securities (or cash equivalents)--increased or decreased during a given year.
Answer: E
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In a process cost system, all of the following data are reported on a cost of production summary except:
a. Summarizing the disposition of the production costs. b. Computing net production revenues for the period. c. Accumulating costs for which the department is accountable. d. Calculating equivalent production for the period.
One type of simulation program made popular by the widespread use of personal computers is called ________
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Which of the following does NOT violate the Foreign Corrupt Practices Act?
A)a U.S. company bribes a government official in order to influence a governmental decision. B)A publicly traded company that does not engage in international trade refuses to allow its company records to be inspected by U.S. officials. C)A U.S. company promises to pay a bribe to a foreign company, but is unsuccessful in gaining any benefits from that company. D)A company allows a grease or facilitating payment for a routine governmental action.