题目

 Big Time Co had the following transactions during the year.

• Purchases from suppliers were $18,500, of which $2,550 was unpaid at the year end. Brought forward payables were

$1,000.

• Wages and salaries amounted to $9,500, of which $750 was unpaid at the year end. The financial statements for the

previous year showed an accrual for wages and salaries of $1,500.

• Interest of $2,100 on a long term loan was paid in the year.

• Sales revenue was $33,400, including $900 receivables at the year end. Brought forward receivables were $400.

• Interest on cash deposits at the bank amounted to $175.

Using the direct method, what is Big Time Co's cash flow from operating activities?

A

$3,425

B

$3,775

C

$1,425

D

$6,775

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Chapter22Statementsofcashflows

Cash flows from operating activities $

Cash received from customers ($400 + $33,400 - $900) 32,900

Cash paid to suppliers ($1,000 + $18,500 - $2,550) (16,950)

Cash paid to employees ($1,500 + $9,500 - $750) (10,250)

Interest paid (2,100)

Interest received 175

Net cash flow from operating activities 3,775

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

 The accruals concept

C

The going concern concept

D

 The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

 The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

 1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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