71) Whitehurst Creek Shop reported interest revenue of $9,500 and its Interest Receivable account decreased $1,200 during the same period. Interest received for the period amounted to:
A) $1,200
B) $10,700
C) $9,500
D) $8,300
72) The cash flow statement is divided into three major sections.
73) Sometimes income and cash flow follow different patterns.
74) The cash flow statement is a supplement to the balance sheet in a company's annual report.
75) The cash flow statement reports the investments the company is making in long-term assets.
76) Cash equivalents are highly liquid short-term investments that can be converted into cash quickly.
77) Investments in Canadian Government Treasury bills are classified as cash equivalents.
78) Cash equivalents would include money market accounts, Canadian Treasury bills, and notes receivable.
79) Only the operating activities section of a cash flow statement is prepared differently when using the indirect method.
80) Only the investing activities section of a cash flow statement differs between the direct and indirect methods.