acc_561_answered_30_questions.docx

Feb 3rd, 2012
Studypool Tutor
Price: $15 USD

Tutor description

acc_561_answered_30_questions.docx

Word Count: 1139
Showing Page: 1/8
ACC 561 Final ExamThe statement of cash flows is used for _____.A. showing the relationship of net income to changes in current assetsB. determining a company's acceptable level of debt financingC. revealing commitments that may restrict future courses of actionD. evaluating the creditworthiness of the organizationNonoperating items on the income statement _____.A. appear only on corporate income statements B. appear on the income statement immediately after gross profit C. are revenues and expenses arising from adjusting entries D. reflect the effects of financial management decisions The difference between a single-step and multiple-step income statement is that a single-step income statement _____.A. groups all revenues together and all expenses together, whereas a multiple-step income statement separates certain revenues and expenses from each other and presents subtotalsB. calculates net income using one method, whereas a multiple-step income statement calculates net income using two or more methodsC. calculates gross profit and operating income, whereas a multiple-step income statement does notD. shows only 1 year's net income, whereas a multiple-step income statement shows multiple years' net incomeWhich one of the following statements is true?A. The statement of cash flows reports the cash receipts but not cash payments of an entity over a period of time.B. Both the statement of cash flows and the income statement determine the net income for a co

Review from student

Studypool Student
" Very Satisfied. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1826 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors