Latitude of the position
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Cash flows from Operating Activities include which of the following as inflows
-Any cash receipt that does not meet the definition of investing, capital and related financing, or non capital financing activities
Cash flows from Investing Activities include which of the following as outflows
-Purchase of short-term investments
Cash flows from Capital and Related Financing Activities include which of the following as inflows
-Receipts from the sale of an old backhoe that had been used in general government activities
Cash flows from Investing Activities do NOT include which of the following as inflows
-Transfers to other funds
Cash flows from Non capital Financing Activities include which of the following as outflows
-Loans to another fund of the entity
(F)FASB Statement No. 117 directs that revenues and expenses be reported in a statement of financial position.
(T)In the statement of activities, FASB Statement No. 117 requires revenues to be reported as increases in one of the three categories of net assets, depending on donor-imposed restrictions; however, all expenses should be reported as decreases in unrestricted net assets
(T)Restricted contributions may be reported as unrestricted if the restriction has been met in the same period as the contribution is made
(F)FASB Statement No. 95 requires not-for-profits to use the direct method in their statements of cash flows.