In a Statement of Cash Flows for a Proprietary Fund,what

question 20

Multiple Choice

In a Statement of Cash Flows for a proprietary fund,what are the primary categories of cash flow activities?

• A)Operating,Financing,Investing
• B)Operating,Noncapital Financing,Capital and Related Financing,Investing
• C)Operating,Financing,Noncapital Investing,Capital and Related Investing
• D)Noncapital Operating,Capital and Related Operating,Investing,Financing

---

Definitions:

LIFO

Last In, First Out, an inventory valuation method where the most recently produced or acquired items are recorded as sold first.

LIFO

"Last In, First Out," an inventory valuation method where the last items to be added to inventory are the first ones used or sold.

FIFO

An inventory valuation method where the first items purchased or produced are the first ones sold, affecting the costs of goods sold and ending inventory.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, interest, taxes, and other expenses.