QUESTION 14 In cash low statement action muted to the male of long tomonta will be reported under which activity Operating Inting Owner's quity Fung QUESTION 18 In a cash flow statement payment of loan will be reported under what activity Financing Investing Operating Not reported under cash flow statement QUESTION TO The Bernhardt Company has assets for which they paid $50 million. The current market value of the assets is $75 million. The assets will be recorded in the accounting books ar $75 million 525 million 5.50 million S125 million QUESTION 17 The historical cost principle states that assets should be initially recorded at cost and adjusted when their market values change. activities of an entity are to be kept separate and distinct from its owner. assets should be recorded at the price paid for them. only transactions that are capable of being expressed in terms of money should be included in the accounting records QUESTION 18 If accounts receivable is credited, it means cash has not been collected for the services given to the customer, cash has been collected for the services that were earlier given on account. O cash has been received for services to be given in the future. O none of the above because accounts receivable increase with debit