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PROBLEM 13: MULTIPLE CHOICE 1. The bottom-line in the statement of cash flows is the a. profit or loss. c. beginning balance of cash. b. net change in cash. d. ending balance of cash. 2. Cash flows that affect an entity's profit or loss are presented in the statement of cash flows under a. operating activities. c. financing activities. b. investing activities. d. Not presented 3. Cash transactions between a business and its owner are presented in the statement of cash flows of the business under a. operating activities. c. financing activities. b. investing activities. d. Not presented 4. Which of the following is an investing activity? a. Cash inflow from owner-contributions to the business b. Cash inflow from collection of accounts receivable c. Cash outflow on prepayments of supplies d. Cash outflow on acquisition of fixed assets 5. Which of the following is a financing activity? a. Cash outflow on owner drawings b. Cash outflow on payments of accounts payable c. Cash outflow on interest expense d. Cash outflow on acquisition of fixed assets 6. On a statement of cash flows prepared using the indirect method, an increase or decrease in inventory appears as a. Operating activity. c. Financing activity. b. Investing activity. d. Not presented. 7. On a statement of cash flows prepared using the indirect method, depreciation expense appears as a. an addition in the operating activities section. b. a deduction in the operating activities section. c. a deduction in the investing activities section.d. None of these g. The statement of changes in equity is dated a. as of a point in time. c. after some time. b. for a period of time. d. Not dated 9. The bottom figure in the statement of cash flows should tally with a. the bottom figure of the statement of comprehensive income. b. the bottom figure of the statement of changes in equity. c. the balance of cash and cash equivalents in the statement of financial position. d. the net change in cash and cash equivalents in the statement of financial position. 10. If the beginning balance of cash and cash equivalents is #120,000 while the ending balance is $360,000, the statement of cash flows would show a a. net increase in cash and cash equivalents of #560,000. b. net increase in cash and cash equivalents of #240,000. c. net decrease in cash and cash equivalents of #240,000. d. net increase in cash and cash equivalents of #360,000