The statement of cash flows is one of the four financial statements a company must prepare as part of International Financial Reporting Standards (IFRS).
Indicate whether the statement is true or false
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Q. 2) Trade receivables occur when two companies trade or exchange notes receivables.
a. True
b. False
Indicate whether the statement is true or false
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Q. 3) On January 1, 2011, Zenith, Inc signed a 200,000, 5, 20-year mortgage note to buy a new office building. The mortgage will be repaid in a series of twenty equal annual installment payments. Calculate the amount of each payment.
Round your answer to the nearest dollar.
A) 10,000
B) 16,049
C) 10,500
D) 20,000
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Q. 4) A form used to request the purchasing department to purchase merchandise or other property is known as a purchase order.
a. True
b. False
Indicate whether the statement is true or false
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Q. 5) On OCTOBER 31, 2011, Bondable, Inc issued 20,000 of 10-year, 6 bonds at 100. The bonds pay interest ANNUALLY on October 31.
On its income statement for the year ended DECEMBER 31, 2011, the year the bonds were issued, Bondable will show Interest expense of ________.
A) 0
B) 200
C) 1,200
D) 120
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Q. 6) A hash total is the general term to describe the summation of data that would not normally be totaled except for control purposes.
Indicate whether the statement is true or false
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