题目内容

Which of the following is most likely an essential characteristic of an asset?

An asset is tangible.
B. An asset is obtained at a cost.
C. An asset provides future benefits.

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Which principle requires that cost of goods sold is recognized in the same period in which the sale of the related inventory is recorded?

A. Going concern.
B. Certainty.
C. Matching.

Depreciation expense would be classified as:

A. Operating cash flow.
B. Investing cash flow.
C. No cash flow impact.

Which of the following items is least likely considered a cash flow from financing activity under U.S. GAAP?

A. Receipt of cash from the sale of bonds.
B. Payment of cash for dividends.
C. Payment of interest on debt.

Torval, Inc. retires debt securities by issuing equity securities. This is considered a:

A. Cash flow from investing.
B. Cash flow from financing.
C. Noncash transaction.

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