Cash Flow Statement Test

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Cash Flow Statement Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

Cash Flow Statement is also known as

A
Statement accounting for variation in cash

B
Statement of Changes in Financial Position on Cash basis

C
'Statement of Changes in Financial Position on Cash basis' and 'Statement accounting for variation in cash'

D
None of these

Solution

'Statement of Changes in Financial Position on Cash basis' and 'Statement accounting for variation in cash'
Question 2
1 / -0
The objectives of Cash Flow Statement are
1. Analysis of cash position
2. Short-term cash planning
3. Evaluation of liquidity
4. Comparison of Operating Performance
A
Both A and C

B
Both B and D

C
Both A and B

D
A, B, C, D

Solution

A, B, C, D
Question 3
1 / -0
In cash flow statement, the item of interest is shown in
1. Operating Activities
2. Financing Activities
3. Investing Activities
A
Both A and C

B
Both A and B

C
A, B, C

D
Both B and C

Solution

Both B and C
Question 4
1 / -0

Cash Flow Statement is based upon

A
Credit basis of accounting

B
Accrual basis of accounting

C
Cash basis of accounting

D
None of these

Solution

Cash basis of accounting
Question 5
1 / -0
Which of the following statements are false?
1. Cash Flow Statement is helpful in the formation of policies.
2. Cash Flow Statement is useful for external analysis
3. Cash Flow Statement is helpful in estimating future cash flow
A
Both B and C

B
Both A and B

C
Both A and C

D
None of these

Solution

None of these
Question 6
1 / -0
Which of the following statements are true?
1. Cash flow reveals only the inflow of cash
2. Cash flow reveals only the outflow of cash
3. Cash flow is a substitute for income statement
4. Cash flow statement is not a replacement of funds flow statement.
A
Both B and C

B
Only B

C
Only D

D
Only A

Solution

Only D
Question 7
1 / -0

When the realisation expenses are to be borne by a partner, it is credited to:

A
Realisation A/c

B
Cash A/c

C
Profit & Loss A/c

D
Partner's capital A/c

Solution

Partner's capital A/c
Question 8
1 / -0

At the time of dissolution of a firm, assets taken over by a partner should be

A
Credited to Realisation A/c

B
Debited to Realisation A/c

C
Realisation A/c should neither be debited not credited

D
None of these

Solution

Credited to Realisation A/c
Question 9
1 / -0

Provision for doubtful debts appearing at the time of dissolution of a firm transferred to:

A
Realisation A/c

B
Cash A/c

C
Bank A/c

D
None of these

Solution

Realisation A/c
Question 10
1 / -0

As per Accounting Standard-3, Cash Flow is classified into

A
Operating activities, financing activities and investing activities

B
Operating activities and investing activities

C
Operating activities and financing activities

D
Investing activities and financing activities

Solution

Operating activities, financing activities and investing activities

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Re-Attempt Weekly Quiz Competition

Cash Flow Statement Test - 2

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Cash Flow Statement Test - 2

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SHARING IS CARING

Question 1

Statement accounting for variation in cash

Statement of Changes in Financial Position on Cash basis

'Statement of Changes in Financial Position on Cash basis' and 'Statement accounting for variation in cash'

None of these

Solution

Question 2

Both A and C

Both B and D

Both A and B

A, B, C, D

Solution

Question 3

Both A and C

Both A and B

A, B, C

Both B and C

Solution

Question 4

Credit basis of accounting

Accrual basis of accounting

Cash basis of accounting

None of these

Solution

Question 5

Both B and C

Both A and B

Both A and C

None of these

Solution

Question 6

Both B and C

Only B

Only D

Only A

Solution

Question 7

Realisation A/c

Cash A/c

Profit & Loss A/c

Partner's capital A/c

Solution

Question 8

Credited to Realisation A/c

Debited to Realisation A/c

Realisation A/c should neither be debited not credited

None of these

Solution

Question 9

Realisation A/c

Cash A/c

Bank A/c

None of these

Solution

Question 10

Operating activities, financing activities and investing activities

Operating activities and investing activities

Operating activities and financing activities

Investing activities and financing activities

Solution

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