Cash V Profit

Credit purchases of supplies is an expense

• True

• False

Materials used is classified as an expense

• True

• Falso

GST Paid is not an expense

• True

• False

Payments to Accounts Payable is

• Reported in both the Cash Flow Statement and the Income Statement

• Reported in the Cash Flow Statement

• Reported in the Income Statement

• Is not reported in either

Drawings of cash

• Reported in both the Cash Flow Statement and the Income Statement

• Reported in the Income Statement

• Reported in both the Cash Flow Statement

• Is only reported in the Balance Sheet

Credit Fees is

• Reported in both the Cash Flow Statement and the Income Statement

• Reported in the Cash Flow Statement

• Reported in the Income Statement

• Is not reported in either

Which of the following is not an Investing Activity

• Van

• Sale of a Van

• Van expenses

A loan repayment is

• Reported in both the Cash Flow Statement

• Reported in both the Cash Flow Statement and the Income Statement

• Reported in the Income Statement

• Is not reported in either

Wages owing but not yet paid is

• Reported in both the Cash Flow Statement and the Income Statement

• Reported in the Cash Flow Statement

• Reported in the Income Statement

• Reported in both the Income Statement and Balance Sheet

GST Refund is reported in the Income Statement

• True

• False