In a Statement of Cash Flows,the Sale of a Long-Term

question 81

Multiple Choice

In a statement of cash flows,the sale of a long-term investment would ordinarily be classified as:

• A) an operating activity.
• B) a financing activity.
• C) an investing activity.
• D) a lending activity.

Discuss the responsibilities and rights concerning unauthorized electronic fund transfers.

Understand the legal implications of stop-payment orders on checks, including required notices and bank liabilities.

Describe the characteristics, uses, and legal aspects of traveler's checks and cashier's checks.

Recognize the requirements for electronic check presentment and processing checks electronically.

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Definitions:

ASPE

Accounting Standards for Private Enterprises, which provide simplified accounting guidelines for private companies in Canada.

Goodwill Impairment

A decrease in the value of goodwill on a company’s balance sheet, indicating that the value of a company’s acquired assets has fallen below the original valuation.

Revalued Assets

Assets that have been appraised again to reflect their current market value, rather than their original cost.

Consolidated Financial Statements

Financial statements that aggregate the financial position and results of a parent company and its subsidiaries, presenting as if the group were a single entity.