FINANCING ACTIVITIES - PROVIDES INFORMATION ABOUT CASH PROVIDED AND...

3. - TEST BANK FOR FINANCIAL REPORTING FINANCIAL STATEMENT ANALYSIS AND VALUATION A STRATEGIC PERSPECTIVE 7TH EDITION BY WAHLEN 3. - TEST BANK FOR FINANCIAL REPORTING FINANCIAL STATEMENT ANALYSIS AND VALUATION A STRATEGIC PERSPECTIVE 7TH EDITION BY WAHLEN
TEST BANK FOR FINANCIAL REPORTING FINANCIAL STATEMENT ANALYSIS AND VALUATION A STRATEGIC PERSPECTIVE 7TH EDITION BY WAHLEN

3. Financing activities - Provides information about cash provided and used by short- and long-term borrowing and from issuing

or repurchasing capital stock. In addition, cash used for dividends is reported in this category.

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Question What is comprehensive income?

Answer Comprehensive income equals net income for a period plus or minus the changes in shareholders’ equity accounts other than from net

income and transactions with owners. Items affecting comprehensive income include foreign currency translation adjustments, cash flow

hedge accounting, minimum pension liability adjustments and unrealized gains and losses from holding investment securities classified as

available for sale.

Question What is the rationale for the statement of cash flows?

Answer The statement of cash flows provides information on the sources and uses of cash. Even profitable firms sometimes find themselves in

need of cash and unable to pay suppliers, employees, and other creditors. This may occur for two reasons: