Under the cash basis of accounting, a firm
recognizes revenues from selling goods and providing Services in the period when
it receives cash from customers. It reports{{U}} (19) {{/U}}in the
period when it makes cash expenditures for merchandise, salaries, insurance,
taxes, and{{U}} (20) {{/U}}items. To illustrate the measurement of
performance under the cash basis of accounting, consider the following
example.
Donald and Joanne Allens open a hardware store on January 1, Year 1.
The firm receives $20,000{{U}} (21) {{/U}}cash from the Aliens and
borrows $12,000 from a local bank. It must repay the loan on
A. treat as
B. pay for
C. pay back
D. treat
更多"·Read the article about the cash ba"的相关试题:
[单项选择] ·Read the article about the cash basic of accounting. ·Choose the best
word to fill each gap, from A, B, C or D. ·For each question 19—33, mark one
letter (A, B, C or D) on your Answer Sheet. ·There is an example at the
beginning.
Under the cash basis of accounting, a firm
recognizes revenues from selling goods and providing Services in the period when
it receives cash from customers. It reports{{U}} (19) {{/U}}in the
period when it makes cash expenditures for merchandise, salaries, insurance,
taxes, and{{U}} (20) {{/U}}items. To illustrate the measurement of
performance under the cash basis of accounting, consider the following
example.
Donald and Joanne Allens open a hardware store on January 1, Year 1.
The firm receives $20,000{{U}} (21) {{/U}}cash from the Aliens and
borrows $12,000 from a local bank. It must repay the loan on
A. by using up
B. expenses
C. by spending
D. expense
[单项选择]An analyst does research about free cash flow and gathers the following information about a company:
·Cash provided by operating activities is $22000
·Cash used for fixed capital expenditures is $6000
·Net debt repayment is $850
·Interest paid is $3000
·Income tax rate is 35%
·Depreciation and amortization is $1000
The free cash flow to the firm is closest to:（）
A. $16950
B. $17950
C. $18950
[单项选择]Which of the following statements about the basic functions of money is TRUE（）
A. When money is defined as a medium of exchange, it means that money enables value to be stored and transported.
B. Money’s value is directly related to the level of prices.
C. Money’s function as a unit of account allows individuals to account for debts.
[单项选择]Which of the following statements about cash flow is least likely correct Under U.S. GAAP, cash flow from:（）
A. operations includes cash operating expenses and changes in working capital accounts.
B. financing includes the proceeds of debt issued and from the sale of the company’ s common stock.
C. investing includes interest income from investment in debt securities.
[单项选择]An analyst does research about cash conversion cycle and gathers the following information about two companies from the same industry: | Company | Days of Receivables | Days of Payables | Days of Inventories | | 1 | 18 | 10 | 22 | | 2 | 20 | 17 | 27 | |
All else being equal, the cash conversion cycle of company 1 is most likely:（） A. less than that of company 2. B. equal to that of company 2. C. more than that of company 2.
[单项选择]An analyst does research about cash flow statement and gathers the following information about an IT company (in millions). | Cash at the beginning of 2011 | $490 | | Cash at the ending of 2011 | $505 | | Cash flows from operating activities in 2011 | $32 | | Cash flows from investing activities in 2011 | $30 | Which of the following transactions, on its own, best explains the change in cash flows from the beginning of the year The company:（） A. issued $47 millions in bonds in 2011. B. repurchased $47 millions of its stock in 2011. C. increased long-term assets by $47 millions in 2011.
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