Please do all parts

11. 12 A decrease in net assets arising from peripheral or incidental transactions is called a(n) a loss. b. expense. C. cost. d. capital expenditure. To arrive at net cash provided by operating activities, it is necessary to report revenues and expenses on a cash basis. This is done by a. re-recording all income statement transactions that directly affect cash in a separate cash flow journal. b. estimating the percentage of income statement transactions that were originally reported on a cash basis and projecting this amount to the entire array of income statement transactions. c. eliminating the effects of income statement transactions that did not result in a corresponding increase or decrease in cash. d. eliminating all transactions that have no current or future effect on cash, such as depreciation, from the net income computation. Which of the following is a period cost? a. Selling costs. b. Freight in. C. Production costs. d. Labor costs. The correct order to present current assets is a. cash, accounts receivable, prepaid items, inventories, b. cash, inventories, prepaid items, accounts receivable. C. cash, inventories, accounts receivable, prepaid items. d. cash, accounts receivable, inventories, prepaid items. Neutrality means that information a. provides benefits which are at least equal to the costs of its preparation b. cannot favor one set of interested parties over another. c. can be compared with similar information about an enterprise at other points in time, d. would have no impact on a decision maker. 13. 14. 15