Question : Which of the following statements is not true, with respect to operating cycles? 

Option 1: Operating cycle cannot be identified, it is assumed to be of 13 months.

Option 2: Operating Cycle means the time taken by a company to acquire an asset for processing and Converting it into Cash and Cash Equivalents.

Option 3: Operating Cycle is determined for each class of business separately.

Option 4: All of the above 

Question : Where operating cycle cannot be identified, it is assumed to be of -------- months.

Option 1: 15 months

Option 2: 18 months

Option 3: 12 months

Option 4: None of the above

Question : Where operating cycle cannot be identified, it is assumed to be of -------- months.

Option 1: 15 months

Option 2: 18 months

Option 3: 12 months

Option 4: None of the above

Question : -------------- is the time between the acquisition of an asset for processing and its Realization into "Cash and Cash Equivalents.”

Option 1: Operating cycle

Option 2: Accounting period 

Option 3: Financial year

Option 4: None of the above      

Question : The objectives of Cash Flow Statement are:

Option 1: To determine the sources (receipts) of Cash and Cash Equivalents under Operating, Investing and Financing Activities of the enterprise.

Option 2: To determine applications (payments) of Cash and Cash Equivalents under Operating, Investing and Financing Activities of the enterprise.

Option 3: To determine net change in Cash and Cash Equivalents.

Option 4: All of the above