Accounting Test 5 Review 1

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35 Questions - Developed by: Dan - Developed on: - 8.441 taken - User Rating: 3 of 5.0 - 5 Votes

Test 5 Accounting review 1

  • 1
    Major Categories of the income statement include:
  • 2
    The first item on the income statement:
  • 3
    Second Item on the income statement:
  • 4
    Third Item on the Income Statement
  • 5
    Fourth Item on the Income Statement
  • 6
    Final Item on the income statement:
  • 7
    This item on the income statement includes +/- Sale of Assets, Sale of Short Term Investments, and subtracting taxes
  • 8
    This item on the income statement occurs before other gains/losses and tax expense
  • 9
    This item on the income statement is unusual and infrequent, and includes Net of tax
  • 10
    This/these item(s) includes Net of Tax only
  • 11
    Earnings per share=
  • 12
    Earnings per share is computed for:
  • 13
    Tax Payable=
  • 14
    Net Income x Tax Rate=
  • 15
    Tax Expense-Tax Payable=
  • 16
    Tax Expense>Tax Payable
  • 17
    Tax Payable>Tax Expense
  • 18
    Cash Flow Sections include
  • 19
    Operations of a Cash Flow Statement include
  • 20
    Investing section of Cash Flow statement includes:
  • 21
    Included in the financing section of the Cash Flow Statement
  • 22
    Cash provided from operations =
  • 23
    Adjustments to Operations=
  • 24
    If Current Assets Decrease, Collect:
  • 25
    If Current Assets Decrease, Debit ____
    Credit _____
  • 26
    Current Assets Decreasing has no effect on net income, so we ____ operating cash
  • 27
    If Current Assets Increase, What do you do to sales?
  • 28
    If current assets increase, Debit ____
    Credit _____
  • 29
    If Current Liabilities increase, Accrue what?
  • 30
    If Current liabilities increase, net income has decreased but cash hasn't, so _____ Operating cash
  • 31
    If Current Liabilities decrease, it is a ______
  • 32
    If current liabilities decrease, Debit _____
    Credit ________
  • 33
    True/False: We decrease operating cash because there is no effect on net income if current liabilities decrease
  • 34
    Net Cash provided from financing =
  • 35
    Net Cash Flow for period=

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