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Author Question: For most large businesses, the cash basis of accounting will provide accurate financial statements ... (Read 139 times)

lak

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  • Posts: 546
on: Jul 5, 2018
For most large businesses, the cash basis of accounting will provide accurate financial statements for user needs.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A nongovernment, not-for-profit organization received a cash donation restricted for construction of a new building. How should the donation be reported be reported in the statement of cash flows?
 
  a. Cash inflows from operating activities
  b. Cash inflows from financing activities
  c. Cash inflows from investing activities
  d. None of the above. The cash inflow is not recognized until it becomes unrestricted by virtue of incurring construction costs.


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brittanywood

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Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

B


lak

  • Member
  • Posts: 546
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

zacnyjessica

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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