1. Cash is a monetary and financial asset. It is the most liquid finance asset; it is also the standard medium of exchange for most business transactions. Cash is usually classified as a current account, however there are circumstances in which cash is classified as a non-current asset. Required: With the aid of a suitable example, explain when can be classified as a non-current asset.

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A: Cash flow: Cash flow is the flow of cash of the organisation  There are two types of cash flows: 1.…

Q: 35. Which of the following is NOT a cash inflow? A. O Sale of fixed asset B. Issue of debentures C.…

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Q: All of the following are examples of cash outflows from an investing activity except

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Q: cash on hand is it Asset, Liabilities, Owner’s Equity, Revenue or Expense?

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Q: Whether Cash is a asset or equity

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Q: These would include transactions where cash is obtained from or repaid to owners and creditors…

A: The cash flow statement contains a summary of cash inflows/outflows from various activities such as…

Q: Current Assets do not include Select one: a. Inventories b. All the options c. Trade Receivables d.…

A: Current assets are assets that are easily converted into cash within one year.

Q: BE12.2 (LO 1), C Classify each item as an operating, investing, or financing activity. Assume all…

A: Cash Flow Statement :— It is one of the financial statement that shows change in cash and cash…

Q: rue or false. a decrease in cash assets is a debit?

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Q: Classify the following cash flow-related activities into: A. Operating activities (inflow; or…

A: Classify as operating , investing or financing activities and whether it is a cash inflow or outflow…

Q: Which of the following items would not appear in a statement of cash flows? O Depreciation expense.…

A: Statement of cash flows is one of the financial statement being prepared in business. It shows all…

Q: /hich of the following statements is false? O a. Assets must always equal the sum of liabilities and…

A: Assets can be classified as current assets or long term assets and represented in the balance sheet.

Q: Which of the following statements is false? (You may select more than one answer.)a. Purchasing a…

A: Cash Flow Statement:   It is a financial statement prepared by a company to report their cash…

Q: What exactly does "cash flows" imply? Explain why the statement of cash flows provides information…

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Q: Statement 2: The function of expense method does not require additional disclosure in the notes…

A: Solution Note : As per the Q&A guideline we are required to answer the first question only .…

Q: Which of the following would not be considered a form of capital? A. Cash B. Credit Card C. Money…

A: Introduction: Capital: Owners contribution in business called as Capital.

Q: Indicate if the statement is TRUE or FALSE. Additionally, assess if the word "may" is the most…

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Q: Which of the following is not a source of funds for immediate liquidity purposes? Question 9Answer…

A: The correct answer is "Proceeds from an IPO"Initial Public Offering is the issue of shares by the…

Q: Under U.S. GAAP, the statement of cash flows classifies cash expenditures for interest expense as an…

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Q: 1. Which of the following statements are correct? (1) Materiality means that only items having a…

A: Materiality means omission or misstatement of any financial information in the financial statement…

Q: "cash flows

A: "Cash flows" mean the inflows or outflows of cash and cash equivalents as a result of business…

Q: nvesting activities do not include cas

A: Investing activities refer to the acquisition and disposal of long-term assets and investments that…

Q: 12. Credit sale of merchandise (Use the periodic inventory system) 13. Collection of trade accounts…

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A: Accrual accounting records income and expenses when the transaction occurs. Whereas cash accounting…

Q: 6. Raw materials issued to production (Use the periodic inventory system) 7. Cash refund for raw…

A: Operating activities is defined as the generation and outflow of the cash from day to day activities…

Q: Financial liabilities deliver cash. True False

A: Financial liabilities refer to the obligations or debts that a company or individual owes to…

Q: Classify the below Transactions according to Cash Flow Section

A: Classification of transaction according to cash flow statement is given below,

Q: The financial system serves as the main venue to invest excess funds by savers. This is made through…

A: Answer: True

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A: Current assets are those assets which are expected to be sold, consumed or used within the operating…

Q: Note payments reduce cash and are related to long-term debt. Do these facts automatically lead to…

A: The interest payments on note payments usually reduce the cash balance of the company as they are…

Q: Under ASPE the receipt of interest on loans would be reported on a statement of cash flows under…

A: Operating activities are the routine financial transactions supporting an organization's main…

Q: The payment of past debt by the entity will cause a decrease in asset due to the outflow of cash,…

A: Lets understand the basics. Debt is a liability which will needs to pay within certain future so it…

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Q: tiple Liquidity management involves more financial ratios than cash management, which only involves…

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Q: Which statement(s) concerning cash is (are) true? a.cash will never have a credit balance b.cash is…

A: Introduction: Real Account: Debit what Comes in Credit what goes out.

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Q: Cash advances and loans to other parties (other than advances and loans made by financial…

A: >Statement of Cash flows is one of the financial statements, and is prepared for a particular…

Q: The current assets on a balance sheet are typically presented in the order of least to most…

A: An asset is liquid if it can readily be converted to cash. Examples of liquid assets are cash in…

Q: Question 2 Cash and items of value that can easily be converted to cash are called liquid assets.…

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Q: Which of the following items should not appear on the Cash Flow Statement

A: Cash Flow Statement: It is a financial statement that shows the summary of the cash entering and…

Q: A use of cash from financing activities is: Group of answer choices A)Repayment of an account…

A: A) Repayment of an account payable: Operating activity B) Payment of interest: Operating activity C)…

Q: Q4 Which of the following statements is NOT correct? (i)  For an asset to be classified as a…

A: First, we need to understand the basic definition    Financial asset It is a liquid asset that gets…

Q: Cash has a normal debit balance.  What does this mean in accounting?  Be specific and provide as…

A: Current assets are those assets that can be converted into cash within a year whereas noncurrent…

Q: Quick assets include which of the following?     "Cash, prepaid rent, and receivables."     "Cash,…

A: Quick Assets include followings-