Which of the Following Is True Regarding the Statement of Cash

question 83

Multiple Choice

Which of the following is true regarding the Statement of Cash Flows for a public college?

• A) A reconciliation is required, reconciling operating income in the Statement of Revenues, Expenses, and Changes in Net Assets to the cash flows provided (used) by operating activities.
• B) Cash purchases of capital assets are reported as outflows in the capital related financing activities section.
• C) Both of the above are true.
• D) Neither of the above is true.

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Definitions:

Misrepresentation

The act of providing false or misleading statements or information, intentionally or unintentionally, about a material fact.

Fraud

A deliberate deception to secure unfair or unlawful gain, often at the expense of others.

Negligence

Not acting with the care expected from a reasonably prudent person in identical situations.

Cattle Feed

Food specifically prepared and provided for the nourishment and growth of cattle.