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Financial Accounting MCQs

If the balance of accounts receivable is $2,000 at 1/1/2010 and $3,500 at 12/31/2010, how is that represented on the Statement of Cash Flows?

Cashflows from operating activities reflect a positive $1,500 source of cash

Cashflows from financing activities reflect a negative ($1,500) use of cash

Cashflows from financing activities reflect a positive $1,500 source of cash

Cashflows from operating activities reflect a negative ($1,500) use of cash

Answer

Correct Answer: Cashflows from operating activities reflect a negative ($1,500) use of cash

Explanation:

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