Multiple Choice
Which of the following is NOT one of the four main types of endorsements commonly used in accounting for negotiable instruments?
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1. Introduction to Accounting
Types of Accounting
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Bank statements, credit statements, and records of cash expenses help you to estimate your ________.
A
accounts receivable
B
net income
C
inventory turnover
D
cash flow
Verified step by step guidance1
Understand the concept of cash flow: Cash flow refers to the movement of money into and out of a business, which is crucial for assessing liquidity and financial health.
Identify the role of bank statements: Bank statements provide detailed records of deposits, withdrawals, and balances, which are essential for tracking cash inflows and outflows.
Consider credit statements: Credit statements show transactions related to credit purchases and payments, helping to estimate cash flow by accounting for credit-related cash movements.
Include records of cash expenses: Cash expense records document direct cash payments made by the business, which are necessary for calculating cash outflows.
Combine all sources: Use the information from bank statements, credit statements, and cash expense records to estimate the overall cash flow by summing cash inflows and subtracting cash outflows.
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