The statement of cash flows shows all of the income a company earned during a period and the dividends it has declared.
Indicate whether the statement is true or false
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Q. 2) Dollar totals are a summarization of the dollar value of items in the batch.
Indicate whether the statement is true or false
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Q. 3) On January 1, 2011, Nadir Company issued 1,000,000 of 6, 20-year bonds when the market rate of interest was 5. The bonds pay interest annually on December 31. To calculate the amount of cash that Nadir received, you must find ________.
A) only the present value of 1,000,000
B) only the present value of an annuity of 60,000
C) both the present value of 1,000,000 and the present value of an annuity of 50,000
D) both the present value of 1,000,000 and the present value of an annuity of 60,000
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Q. 4) Purchases Returns and Allowances is a contra-purchases account.
a. True
b. False
Indicate whether the statement is true or false
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Q. 5) Which of the statements below regarding capital expenditures is TRUE?
A) Capital expenditures include those that make an asset last longer.
B) Capital expenditures maintain the operating condition of an asset.
C) Capital expenditures include ordinary repairs.
D) Capital expenditures decrease the carrying value of an asset.
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Q. 6) In order to implement a batch sequence check transactions must be captured on documents that are randomly numbered.
Indicate whether the statement is true or false
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