Match the Following

question 13

Short Answer

Match the following.
A) indirect method
B) amortization
C) cash equivalents
D) direct method format
E) cash flows
F) noncash investing and financing activities
G) operating activity
H) gain or loss
I) financing activity
J) operating or financing activities
K) net income
L) evaluate management decisions
M) cash flow statement
N) free cash flow
O) accumulated amortization
P) investing activity
-ASPE cash flow statement classification of dividend payments

• A) indirect method
• B) amortization
• C) cash equivalents
• D) direct method format
• E) cash flows
• F) noncash investing and financing activities
• G) operating activity
• H) gain or loss
• I) financing activity
• J) operating or financing activities
• K) net income
• L) evaluate management decisions
• M) cash flow statement
• N) free cash flow
• O) accumulated amortization
• P) investing activity
• -ASPE cash flow statement classification of dividend payments

Understand the importance and calculation of the asset turnover ratio.

Differentiate between the periodic and perpetual inventory systems in terms of operational functionality.

Comprehend the process of recording the sale and return transactions under the perpetual inventory system.

Understand credit terms and their implications for financial transactions.

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Definitions:

Fair Value

The estimated price at which an asset could be bought or sold in a current transaction between willing parties.

GAAP

Generally Accepted Accounting Principles, a set of rules and standards for financial reporting used in the United States.

Assets Reporting

The process of documenting and disclosing the value and details of a company’s assets in financial statements.

Net Assets

The total value of all a company's assets after subtracting liabilities; an indication of the company's net worth.