Accounting Terminology
Listed Below Are Eight Technical Accounting Terms Introduced

question 46

Essay

Accounting terminology
Listed below are eight technical accounting terms introduced in this chapter:
$$\begin{array} { | l | l | } \hline \text { Cash received from customers } & \text { Operating activities } \\\hline \text { Financing activities } & \text { Investing activities } \\\hline \text { Cash equivalents } & \text { Statement of cash flows } \\\hline \text { Non-cash investing and } & \text { Income statement } \\\hline \text { financing activities } & \\\hline\end{array}$$
Each of the following statements may (or may not) describe one of these technical terms. In the space provided beside each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
____ (a) Cash sales and collections of accounts receivable.
____ (b) The classification of cash flows which includes issuing capital stock and paying dividends.
____ (c) The financial statement which best describes the profitability of a business.
____ (d) The section of a statement of cash flows summarizing the cash effects of most transactions entering into the determination of net income.
____ (e) An expense that reduces net cash flow but does not reduce net income.
____ (f) The classification of cash flows that includes purchases and sales of plant assets.
____ (g) Transactions shown in a supplementary schedule accompanying a statement of cash flows.

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Definitions:

Oxidation Number

A figure that represents the total number of electrons an atom either gains or loses in order to form a chemical bond with another atom.

Oxidation Number

A value that represents the total number of electrons that an atom either gains or loses in order to form a chemical bond with another atom.

Cl

Symbol for Chlorine, a reactive, yellow-green gas at room temperature, belonging to the halogen group in the periodic table, with applications in water purification, disinfectants, and bleach.

Elemental Metals

A group of elements that share properties such as high electrical conductivity, malleability, and a shiny appearance.