Question $1(1$ point$)$

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Which section of the statement of cash flows would show Santhya's payments for food ingredients and wages paid to employees?

Question $1$ options:

cash flows from operating activities

cash flows from financing activities

non$-$business$-$related cash flows

cash flows from investing activities

Question $2(1$ point$)$

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On a statement of comprehensive income, revenue less cost of goods sold $($COGS$)$ equals which of the following?

Question $2$ options:

net income or loss

gross profit

operating expenses

net profit

Question $3(1$ point$)$

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Joanne provides piano lessons to students in her home four days a week. The money she earns from providing these services would be characterized as which of the following on a statement of comprehensive income?

Question $3$ options:

assets

revenues

retained earnings

equity

Question $4(1$ point$)$

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Which of the following is a leverage ratio?

Question $4$ options:

inventory turnover ratio

return on sales

debt$-$to$-$equity ratio

acid$-$test ratio

Question $5(1$ point$)$

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Which of the following ratios would show you the level of debt compared to assets or equity?

Question $5$ options:

liquidity ratio

leverage ratio

activity ratio

quick ratio

Question $6(1$ point$)$

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Assets $=$ liabilities $+$ owners' equity is the equation for information reported on which of the following?

Question $6$ options:

statement of financial position

statement of comprehensive

earnings statement

statement of owners' equity

Question $7(1$ point$)$

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What does an airplane that FedEx owns and uses to deliver packages represent for FedEx?

Question $7$ options:

liability

asset

fixed cost

expense

Question $8(1$ point$)$

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Cash and payments received from customers would be classified on the statement of cash flows as which of the following?

Question $8$ options:

cash flows from financing activities

cash flows from investing activities

revenue

cash flows from operating activities

Question $9(1$ point$)$

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What are assets that are not easily converted into cash or are expected to be held for longer than a year called?

Question $9$ options:

current assets

fixed assets

intangible assets

long$-$term equity

Question $10(1$ point$)$

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What are generally accepted accounting principles?

Question $10$ options:

a set of globally accepted accounting standards for public companies

accounting rules and standards used only for private companies

the former financial accounting rules and standards for accountants in Canada

what is taught in accounting courses