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FR IAS-7

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FR IAS-7

Tishadz December 22, 2020

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Question 1 of 13

1. Question
1. A cash flow statement provides information that enables users to evaluate the changes in:
- a. Its liquidity
- b. Net assets of an undertaking
- c. Solvency
- d. Its financial structure
Correct

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Question 2 of 13

2. Question
2. The acquisition, and disposal, of long-term assets are:
- a. Operating activitie
- b. Financing activities
- c. Investing activities
- d. Component of cash and cash equivalent
Correct

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Question 3 of 13

3. Question
3. Activities that result in changes in the size (and composition) of the equity capital, and borrowings are:
- a. Operating activities
- b. Investing activities
- c. Financing activities
- d. Component of cash and cash equivalent
Correct

Incorrect
Question 4 of 13

4. Question
4. For an investment to qualify as a cash equivalent, it must be:
- a. Liquid and high risk
- b. Liquid and medium risk
- c. Illiquid and low risk
- d. Liquid and low risk
Correct

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Question 5 of 13

5. Question
5. The maximum maturity of a cash equivalent is:
- a. 12 month
- b. 1 month
- c. 6 month
- d. 3 month
Correct

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Question 6 of 13

6. Question
7. The carrying amount of property, plant and equipment was $410 million at 31 March 2011 and $ 680 million at 31 March 2012. During the year, property with a carrying amount of $ 210 million was revalued to $290 million. The depreciation charge for the year was $115 million. There were no disposals. What amount will appear on the statement of cash flows for the year ended 31 March 2012 in respect of purchases of property, plant and equipment?
- a. $ 225 million
- b. $ 305 million
- c. $ 235 million
- d. $ 270 million
Correct

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Question 7 of 13

7. Question
8. The statement of financial position of Pinto at 31 March 2017 showed property, plant and equipment with a carrying amount of $1,860,000. At 31 March 2018 it had increased to $2,880,000. During the year to 31 March 2018 plant with a carrying amount of $240,000 was sold at a loss of $90,000, depreciation of $280,000 was charged and $100,000 was added to the revaluation surplus in respect of property, plant and equipment. What amount should appear under ‘investing activities’ in the statement of cash flows of Pinto for the year ended 31 March 2018 as cash paid to acquire property, plant and equipment?
- a. $ 1,440,000
- b. $ 1,350,000
- c. $ 1,640,000
- d. $ 1,260,000
Correct

Incorrect
Question 8 of 13

8. Question
10. Daily sales and purchases, employee costs and general overheads comprise:
- a. Financing activities
- b. Component of cash and cash equivalent
- c. Investing activities
- d. Operating activities
Correct

Incorrect
Question 9 of 13

9. Question
11. Top Trades Co has been trading for a number of years and is currently going through a period of expansion. An extract from the statement of cash flows for the year ended 31 December 20X7 for Top Trades Co is presented as follows:

Net cash from operating activities 995
Net cash used in investing activities (540)
Net cash used in financing activities (200)
Net increase in cash and cash equivalents 255
Cash and cash equivalents at the beginning of the period 200
Cash and cash equivalents at the end of the period 455

Which of the following statements is correct according to the extract of Top Trades Co’s statement of cash flows?
- a. The company has good working capital management
- b. Net cash generated from financing activities has been used to fund the additions to non-current assets
- c. Net cash generated from operating activities has been used to fund the additions to non-current assets
- d. Existing non-current assets have been sold to cover the cost of the additions to non-current assets
Correct

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Question 10 of 13

10. Question
12. A cash flow statement:
- a. Shows the net change in cash during a period
- b. Explains the causes for the changes in cash by providing information about operating, financing and investing activities
- c. Reports the cash receipts and cash payments of an enterprise during a period
- d. Is a financial statements required by the IASs
- e. All of the above are correct
Correct

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Question 11 of 13

11. Question
13. Operating management in an enterprise is largely concerned with:
- a. Meeting short-term cash commitments
- b. How to use cash
- c. The activities that generate revenues and incur expenses
- d. Where to get cash
- e. Acquiring and disposing of PPE and other long-lived assets
Correct

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Question 12 of 13

12. Question
14. Which two of the following are not operating activities?
- a. Interest paid
- b. Acquisition of a subsidiary
- c. Payment of dividends
- d. Cash payments of income taxes
- e. Collections from customers
Correct

Incorrect
Question 13 of 13

13. Question
15. The direct method:b& c
- a. Adjust the net profit to reflect only cash receipts and outlays
- b. Adds depreciation/amortisation to the computation
- c. Considers gains or losses on the disposal of non current assets
- d. Calculates net cash provided by operating activities as collection less operating disbursements
- e. All of the above are correct
Correct

Incorrect

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