Which method of cash flow reporting is used to report operating activities? a. Indirect method. b. Direct

Question:

Which method of cash flow reporting is used to report operating activities?

a. Indirect method.

b. Direct method.

c. Either the indirect or direct method, depending on the method chosen for the government’s Enterprise Funds.

d. Cash flow reporting is optional for Internal Service Funds.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

See More Books

Question Posted: Feb 24, 2024 05:01 AM

See More Questions

Multiple Choice Questions Identify the best answer for each of the following: 1. Which of the following activities is not commonly accounted for in an Internal Service Fund? a. Self-insurance b....
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The following items summarize certain transactions that occurred during the past year for Alta Inc. Show in which section of the statement of cash flows the information would be reported by placing...
8 Assume a company reported the following results: Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) What is the return on investment? ? $ 120,000 $...
Holly Company prepared the following budgeted income statement for the first quarter of 2018: HOLLY COMPANY Budgeted Income Statement For the Quarter Ended March 31, 2018 Holly Company is considering...
If 1.50 mol of nitrogen monoxide gas and 2.50 mol of oxygen gas react, what is the limiting reactant and how many moles of NO 2 are produced according to the equation in Exercise 51? Exercise 51 If...
The floating rate portion of a plain vanilla interest rate swap with yearly payments and a notional principal of one unit has cash flows at the end of each year defining a stream starting at time 1...
1. What advice do you have for Morris and Ellen? 2. What recommendations do you have for preparing children to lead changes in a company?
The following data are available for Sellco for the fiscal year ended on January 3 1 , 2 0 2 3 : Sales 1 , 6 0 0 units Beginning inventory 5 0 0 units @ $ 4 Purchases, in chronological order 6 0 0...
Which of the following accounts would not typically be reported on the operating statement of an Internal Service Fund? a. Salaries and wages expense. b. Supplies expense. c. Depreciation expense. d....
Which of the following equity classifications is not commonly reported for an Internal Service Fund? a. Retained earnings. b. Invested in capital assets, net of related debt. c. Restricted net...
Using the information from E15.19 and assuming the market rate of interest was 7.5 percent, make the entries for the first year of the notes life.
This case is really three separate cases, each one adding a new twist to the life and times of Scranton Bank and Trust, a small banking firm in Scranton, Pennsylvania. In the first case, Norwalk Auto...
P&F Construction Corporation ordered 338 door units for an apartment condominium project from Friend Lumber Corporation. The doors were delivered to the job site three weeks after they were ordered....
What is the difference between the public interest and public policy?
Banks in New Transylvania have a desired reserve ratio of 10 percent of deposits and no unplanned reserves. The currency drain ratio is 50 percent of deposits. Now suppose that the central bank...
How will the outcomes in the loanable funds market differ if Indias government budget deficit is 3.8 percent or 7 percent of GDP? Indias government budget deficit is 4.6 percent of GDP in 20192020....
How does the recognition of revenue on account (accounts receivable) affect the income statement compared to its effect on the statement of cash flows?
If M = 7, s = 2, and X = 9.5, what is z?
How is information technology changing the way farmers run their business?
How do the systems described in this case improve farming operations?
How do precision agriculture systems support decision making? Identify three different decisions that can be supported.
Find the following (in m) for the path in the figure below. (a) the total distance traveled m (b) the displacement from start to finish m 10 12 x (m)
Two soccer players kick a soccer ball back and forth along a straight line. The first player kicks the ball 15 m to the right to the second player. The second player kicks the ball to the left...
A remote controlled toy car starts from rest and begins to accelerate in a straight line. The figure below represents "snapshots" of the car's position at equal 0.5 s time intervals. (Assume the...

Which method of cash flow reporting is used to report operating activities? a. Indirect method. b. Direct

Question:

Step by Step Answer:

Answer b Direct method Operating activities are typically reported using the direct method in cash f...View the full answer

Governmental And Nonprofit Accounting Theory And Practice

Students also viewed these Business questions