Which of the following transactions or events should be reported as a source of cash from operating activities when using the direct method?
A. Cash received from the sale of a building.
B. Credit sales.
C. Cash received from the sale of treasury stock.
D. Depreciation expense.
E. Cash collections from customers.
Answer: E
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______ allows us to engage in appropriate and effective anxiety and uncertainty management, according to AUM.
A. Intercultural adjustment B. Attributional confidence C. Mindfulness D. Effective communication
If the trial balance does not balance and the difference between debits and credits is evenly divisible by 9, there is a good chance that
A) a transaction has not been recorded. B) a transaction has been journalized to the wrong account. C) a transposition or a slide has occurred. D) only one side of the transaction has been recorded.
Which of the following documents stated fundamental concepts of financial reporting that would serve as a foundation for the opinions of the APB?
a. “Objectives of Financial Statements” (Trueblood Committee Report) b. “Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises” (APB Statement 4) c. “A Statement of Basic Accounting Theory” (ASOBAT) d. “Statement of Accounting Theory and Theory Acceptance” (SATTA)
If a cost complement is 0.8, that means _____
a. the firm has a gross margin of 80 percent b. 80 cents of each retail sales dollar covers the merchandise cost c. stock shortages are 20 percent of sales d. the firm is profitable