If the indirect method is used to prepare a statement of cash flows, which of the following would be deducted from net income to arrive at net cash flows from operating activities?
a. Increase in accrued liabilities
b. Increase in income taxes payable
c. Increase in accounts receivable
d. Decrease in prepaid expenses
C
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Which of the following statements regarding merchandise inventory is not true?
A. Merchandise inventory is reported on the balance sheet as a current asset. B. Merchandise inventory may include the costs of freight-in and making them ready for sale. C. Purchasing merchandise inventory is part of the operating cycle for a business. D. Merchandise inventory refers to products a company owns and intends to sell. E. Merchandise inventory appears on the balance sheet of a service company.
Tiny Tim Toy Company (TTT) entered into a contract with the manufacturing firm of Charles, Dickens, and Scrooge (C,D&S) to purchase Christmas toys. The shipment was due to arrive on September 1, in time for the Christmas sales. By August 15, after
hearing from other toy companies that C,D&S were falling far behind on meeting delivery dates, TTT wrote a letter demanding assurances that the goods would arrive as scheduled. The only response received was a letter on C,D&S letterhead that said, "Bah Humbug! You'll get the shipment by November 1." Discuss TTT's possible remedies at this point.
Property insurance policies contain declarations, conditions, definitions, exclusions, and an insuring agreement
However, some policy terms, such as subrogation, cancellation, other insurance, and assignment do not fall into these categories. The part of an insurance contract in which these provisions can be found is the A) endorsements. B) binders. C) conditions. D) miscellaneous provisions.
If a lender (creditor) wishes to claim a(n)_________they should chose a judicial foreclosure over a non-judicial foreclosure
Fill in the blank(s) with correct word