The direct method of reporting operating cash flows:
A. Is used by most companies.
B. Is considered supplementary disclosure.
C. Must be used by all companies.
D. Is recommended but not required by the FASB.
E. Is not recommended by the FASB, but is commonly used.
Answer: D
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An aging of a company's accounts receivable indicates that $2,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $200 credit balance, the adjustment to record bad debts for the period will require a
A) debit to Bad Debt Expense for $2,200. B) debit to Bad Debts Expense for $2,000. C) debit to Bad Debts Expense for $1,800. D) credit to Allowance for Doubtful Accounts for $3,000.
When more powerful or vocal group members might intimidate others, which decision-making format for a face-to-face meeting is appropriate?
A. nominal group technique B. rational problem-solving C. Delphi technique D. brainstorming
External demand for a firm’s finished products is?
a. Independent demand b. Dependent demand c. Both independent and dependent demand d. Neither independent nor dependent demand
To be a "good citizen," when making decisions a business should not evaluate the public relations impact
a. True b. False Indicate whether the statement is true or false