1. Elizabeth Myers invested in a project that required an initial amount of $1,560, and returned one...
Question:
1. Elizabeth Myers invested in a project that required an initial amount of $1,560, and returned one cash inflow of $12,000 at the end of the 18 th year. A partial table of the present value of an annuity of $1 in arrears is as follows:
What is the internal rate of return for this investment?
a. 14%
b. 10%
c. 12%
d. 8%
e. 16%
2.
Financing activities involve:
a. purchasing long-tern assets.
b. payment of operating expenses.
c. selling long-term assets.
d. issuance of Song-term debt.
3.
The following items were reported on the balance sheets and income statement for Collin Inc.:
How would the change in accounts receivable be reported in the operating activities section of the statement of cash flows?
a. as a deduction from net income.
b. as an addition to net income.
c. as an addition to sales.
d. as a deduction from sales.
4.
The data given below are from the accounting records of Kain Company:
Based on this information, the net cash flows from operating activities on the statement of cash flows using the indirect method would be:
a. $50,000
b. $42,100
c. $51,300
d. $44,700
Principles of Taxation for Business and Investment Planning 2016 Edition
ISBN: 9781259549250
19th edition
Authors: Sally Jones, Shelley Rhoades Catanach