The Following Questions Refer to the Excerpt Below

question 26

Multiple Choice

The following questions refer to the excerpt below.
"…They buried him in the midst of a marble quarry-they cut through solid marble to make his grave-and yet a little tombstone they put above him was from Vermont.They buried him in the heart of a pine forest,and yet the pine coffin was imported from Cincinnati…the iron in the shovel that dug his grave was imported from Pittsburg.They buried him by the side of the best sheep-grazing country on earth…and the coffin bands were brought from the North.The South didn't furnish a thing on earth for that funeral but the corpse and the hole in the ground…"
Henry Grady,1889
-As a result of Reconstruction,

• A) the South reverted back to its economic pre-Civil War ways.
• B) Southern growth in industry was stifled.
• C) most Northerners did not want to invest monies into the South.
• D) the South slowly adopted some industry while remaining primarily agricultural.

Identify non-cash investing and financing activities and their reporting requirements.

Understand the direct and indirect methods of reporting cash flows from operating activities.

Recognize the significance of the statement of cash flows in assessing a company's financial health and future cash flows.

Distinguish between cash flows from operating activities and those from non-operating activities.

---

Definitions:

Double Declining-balance

A method of accelerated depreciation that doubles the straight-line depreciation rate.

Depreciation Expense

This refers to the allocation of the cost of a tangible asset over its useful life, representing how much of the asset's value has been used up during a fiscal period.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was put into service.

Straight-line Method

An accounting method for calculating depreciation by evenly distributing the cost of an asset over its useful life.