CheQS 6-3 Cash and equivalents LO C2Choose from the following list of terms and phrases to best complete the following statements.1.The termrefers to a company's ability to pay for its current liabilities.2.set of approvals and procedures used to control the acceptance of liabilities and cash payments.category includes short-term, highly liquid investment assets that are readily convertible to a known cashamount and sufficiently close to their due dates so that their market value will not greatly change.3. ThePrey1 of 5Next >MacBook Air

Current liability is the liability which is expected to be settled with in the operating cycle of…

Answered: QS 6-3 Cash and equivalents LO C2…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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QUESTION 12 When using the indirect method to determine operating cash flows, how would the retirement of bonds payable at their maturity date be shown on the statement of cash flows? a. an investing activity b. not reported on the statement of cash flows c. a noncash investing and financing activity d. an operating activity e. a financing activity
QUESTION 30 Statement of Cash flows requires that cash receipts and payments should be analysed into three main categories. Under which category would you expect to find the cash proceeds from a share issue? a. Financing activities •b. Operating activities c. Investing activities d.Cash and cash equivalents
Where are cash equivalents disclosed in the financial statements?The _____________ account on the balance sheet. A.) Accounts Recievable B.) Cash C.) Expenses D.) Merchandise Inventory E.) Sales
QUESTION 10 Which of the following in accounts would be classified as current assets on the balance sheet? a. Accounts receivable, inventory, cash equivalents b. Pre-paid expenses, goodwill, long term investments C. Property, plant and equipment, inventory and goodwill d. Marketable securities, accounts payable, property plant and equipment
Question 12 Which of the following methods does not adjust for the time value of money: A internal rate of return B net present value C profitability index D payback period
j. times interest earned k. cash coverage ratio l. current ratio and quick ratio
QUESTION 10 The cash invested in the busìness by the owner is known as? a. Shares b.Capital c. Loan d. Profit
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PFRS 9 requires entities to measure their financial assets based on The contractual cash flow characteristics of the financial asset. The company’s business model for managing its financial assets. a. Neither 1 nor 2 b. 2 only c. Both 1 and 2 d. 1 only
IAS 7 Statement of cash flows allows entities to present cash flow from operating activities, using either indirect method or direct method. a. Explain why and how the following are adjusted when preparing the statement of cash flows following the indirect method • Depreciation/amortisation • Profit/loss on disposal • Interest receivable/investment income • Finance costs • Change in receivable • Change in inventory • Change in payables. b. The statement of cash flows is an important part of the financial statements. Outline the importance of statement of cash flows
6.On a statement of financial affairs, a company's liabilities should be valued at Select one: a.the present value of future cash flows. b.the amount expected to be paid if the company could honor its debts. c.net realizable value. d.the amount required for settlement. e.replacement cost.
Question 9 A controlling account that equals the total of all vendor accounts is: O Accounts Payable. Accounts Receivable Cash O Purchases.

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QS 6-3 Cash and equivalents LO C2 Choose from the following list of terms and phrases to best complete the following statements. 1.The term refers to a company's ability to pay for its current liabilities.