Question: 2. Cash flows from operating activities, as reported on the statement of cash flows under the indirect method, would include: A. net income. B. payments

2. Cash flows from operating activities, as reported on the statement of cash flows under the indirect method, would include:

A. net income.

B. payments for dividends.

C. receipts from the issuance of capital stock.

D. receipts from the sale of investments.

4. Which of the following adjustments to convert net income to net cash provided by operating activities is not added to net income?

A. Patent Amortization Expense.

B. Depletion Expense.

C. Gain on Disposal of Equipment.

D. Depreciation Expense.

23. Department 1 of a two department production process shows:

Units

Beginning Work in Process

10,000

Ending Work in Process

50,000

Total units to be accounted for

160,000

How many units were transferred out to Department 2?

A. 110,000

B. 160,000

c. 150,000

D. 50,000

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