1. Which one of the following is not a non-current liability for a company? A: Deferred tax...
Question:
1. Which one of the following is not a non-current liability for a company?
A: Deferred tax
B: Bonds
C: Unpaid debenture interest
D: Mortgages
2. Which one of the following statements is true about the statement of cash flows?
A: It’s another way of presenting the cash book.
B: It is not a must for a company to prepare a statement of cash flows.
C: It is a must for a company to prepare the statement of cash flows.
D: It's net change in cash and cash equivalents is taken to income.
3. Revaluation surplus is a non-current asset.
A: True
B: False
4. Which one of the following statements best describes a cash outflow in relation to the statement of cash flows?
A: A cash outflow is an expense.
B: A cash outflow may have been paid or not.
C: A cash outflow is associated to both revenue and capital expenditure.
D: None of the above
5. Increase in revaluation reserve is a cash inflow.
A: True.
B: False