Which of the following is a cash inflow from an operating activity on a statement of cash flows prepared using the direct method?
A) sold treasury stock for cash
B) issued common stock
C) received interest revenue in cash
D) borrowed money on a long-term note
C) received interest revenue in cash
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When a long-term asset is sold for more than its book value, the difference represents a gain
a. True b. False Indicate whether the statement is true or false
Which of the following will destroy the negotiability of an instrument?
A. Postdating the negotiability of an instrument B. Antedating the negotiability of an instrument C. Using phrases such as "please pay" or "pay to the order of" D. Conditioning payment on the payee's performance
A liquidating dividend is
a. a dividend that exceeds current retained earnings. b. normally declared when a corporation is experiencing large profits. c. a dividend that exceeds current profits. d. legal in most states.
In which of the following cases is the direct organization method most appropriate?
a. asking your boss for an extension on an assignment. b. recommending a controversial change in departmental procedure to your boss, c. requesting a day off during your company's busy season. d. sending a status report indicating that you are on schedule for an assignment.