Cash Flow Statement Test

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Cash Flow Statement Test - 23

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Weekly Quiz Competition

Question 1
1 / -0

Redemption of preference Shares is concerned directly with ______.

A
Operating Activities

B
Not concerned with any activity

C
Investing Activities

D
Financing Activities

Solution

Redemption of preference shares is concerned with financing activities. It will be deducted in financing activities as cash used in redemption of prefrence share.
Question 2
1 / -0

Buy Back of equity shares is concerned with_________.

A
Operating Activities

B
Investing Activities

C
Both Investing Activities and Operating Activities

D
Financing Activities

Solution

Buy back of shares is concerned with financing activities. This is the situation where one company is buying its own shares form the open market as change in financial position.
Question 3
1 / -0

Income tax paid is concerned with__________.

A
Investing Activities

B
Financing Activities

C
Both Investing Activities and Financing Activities

D
Operating Activities

Solution

Income tax is concerned with only operating activities. Tax paid is deducted at the end while calculating Cash flow from operating activities in Cash Flow statement.
Question 4
1 / -0

The various activities operating, investing and financing classified as per ___related to cash flow statement

A
AS – 5(revised)

B
AS – 6(revised)

C
AS – 3(revised)

D
AS – 4(revised)

Solution

The various activities in Cash Flow Statement as operating, investing and financing classified as per Accounting Standard – 3 (AS- 3 Revised).
Question 5
1 / -0

Some type of transaction which are considered movement between cash and cash equivalents are given below except …....

A
Cash with drawn from the bank.

B
Sale of cash equivalent securities

C
Cash credit

D
Purchase of cash equivalent securities

Solution

Internal movement in cash and cash equivalents will not make any effect. Cash credit is not part of cash and cash equivalents. It is part of financing activities.
Question 6
1 / -0

When provision for depreciation account is separately maintained. In this method two accounts namely ___ and _____ account is prepared.

A
Fixed assets and Investment account

B
Investment and provision for recitation account

C
Fixed assets and Dividend account

D
Fixed assets and provision for depreciation account

Solution

When provision for depreciation a/c is maintained separately in such a case at the time of sale of asset two accounts are prepared (i) Asset Account (ii) Provision for Depreciation Account or Accumulated Depreciation Account.
Question 7
1 / -0

Following are the unamortized expenses except _______________.

A
Loss on issue of debentures

B
Share issue expenses

C
Discount on issue of debentures

D
Issue of share capital

Solution

Issue of share capital is not the part of unamortized expenses. Discount on issue of debentures, Loss on issue of debentures, and Share issue expenses are unamortized expenses.
Question 8
1 / -0

Cash Credit is concerned with --------.

A
Operating Activities

B
Cash and Cash Equivalents

C
Investing Activities

D
Financing Activities

Solution

Cash credit is concerned with Financing Activities. It is given in the balance sheet under Current Liabilities short term borrowings in the liabilities side.
Question 9
1 / -0

Increase in Bank Overdraft balance ----------.

A
Add in Financing Activities

B
Less in Financing Activities

C
Less in Operating Activities

D
Add in Operating Activities

Solution

Increase in Bank overdraft is treated as source of funds and it is added in financing activities while preparing a cash flow statement as its increase in cash.
Question 10
1 / -0

Loose Tools are shown under:

A
Inventories

B
Other Current Assets

C
Trade Receivables

D
short-term loans and advances

Solution

Loose tools are shown under the heading Current assets and sub, heading Inventories in Assets side.

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Re-Attempt Weekly Quiz Competition

Cash Flow Statement Test - 23

Result

Cash Flow Statement Test - 23

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SHARING IS CARING

Question 1

Operating Activities

Not concerned with any activity

Investing Activities

Financing Activities

Solution

Question 2

Operating Activities

Investing Activities

Both Investing Activities and Operating Activities

Financing Activities

Solution

Question 3

Investing Activities

Financing Activities

Both Investing Activities and Financing Activities

Operating Activities

Solution

Question 4

AS – 5(revised)

AS – 6(revised)

AS – 3(revised)

AS – 4(revised)

Solution

Question 5

Cash with drawn from the bank.

Sale of cash equivalent securities

Cash credit

Purchase of cash equivalent securities

Solution

Question 6

Fixed assets and Investment account

Investment and provision for recitation account

Fixed assets and Dividend account

Fixed assets and provision for depreciation account

Solution

Question 7

Loss on issue of debentures

Share issue expenses

Discount on issue of debentures

Issue of share capital

Solution

Question 8

Operating Activities

Cash and Cash Equivalents

Investing Activities

Financing Activities

Solution

Question 9

Add in Financing Activities

Less in Financing Activities

Less in Operating Activities

Add in Operating Activities

Solution

Question 10

Inventories

Other Current Assets

Trade Receivables

short-term loans and advances

Solution

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