Question

Q1.Which of the following is an example of an investing activity?
Prepayment of a contract
Purchase of machinery
Repayment of long term debt
Issuance of shares
Q2.Which statement does NOT describe operating cash flows?
Employee Salaries
Cash Received from Customers
Cash Paid to Suppliers
Cash Paid for New Factory Equipment
Q3.What would you find on the Management's Discussion and Analysis (MD&A) Section of an Annual Report?
A review of the company's past performance
List of future actions that the company plans on taking
Key risks facing the organization
All of the above
Q4. Which is the best description of authorized shares?
The total amount of shares that can be sold
The total amount of shares held by the directors
The total amount of shares a company has received cash for
The total amount of shares that can be publicly traded
Q5. Which is not a type of note found in a set of financial statements?
Direct information
Significant internal controls
Significant accounting policies
Indirect information
Q6. Where would unearned revenue most likely appear in a set of financial statements?
In the Balance Sheet as an asset
In the Income Statement after Operating Profit
In the Income Statement before Gross Profit
In the Balance Sheet as a liability
Q7. Which is not an example of an intangible asset?
A copyright
A trademark
A computer
A patent
Q8. What will a contingency note contain?
A disclosure of all future commitments of the company
A set of criteria required to be able to recognize revenue
A disclosure of future contracts to be performed
A circumstance where a company may have a liability
Q9. Where would advertising costs normally be found?
On the balance sheet, within intangible assets
On the income statement, within selling, general and administration
On the balance sheet, within contingent liabilities
On the income statement, within cost of sales
Q10. What is an advantage to using a multi-step income statement?
All income items are grouped in one section, and all expenses in another
The fixed costs and variable costs are broken out separately
Direct expenses and indirect expenses are broken out separately
Net Income is shown before income taxes

Answer 1

Answer:

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Answer 2

Answer:purchase of machinery

Explanation: