Which of the Following Accounting Functions Focuses the Most on Automatically

question 64

Multiple Choice

Which of the following accounting functions focuses the most on automatically calculating and accumulating depreciation?

• A) Credit card sales
• B) Fixed asset accounting
• C) Payroll records
• D) Accounts receivable records

Distinguish between cash flows from operating, investing, and financing activities.

Analyze the implications of specific transactions on the statement of cash flows.

Understand the differences and similarities between the direct and indirect methods of reporting cash flows from operating activities.

Recognize noncash investing and financing activities and their reporting.