Which of the following adjustments would NOT be made to net income when computing cash from operating activities?
a. add an increase in Accounts Payable
b. add depreciation expense
c. add an increase in Accounts Receivable
d. subtract the gain on sale of land
c
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If a firm has a current ratio of 2, the subsequent receipt of a 60-day note receivable on account will cause the ratio to decrease
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. According to Burt Nanus, good vision statements are useful because they help people to consider all interesting elements in their environments. 2. A good vision statement should describe a company's major strengths and competitive advantage in its industry. 3. A mission statement should be ambitious. 4. After the assessment of current organizational performance, the subsequent explanation of how its mission is to be accomplished is called a comprehensive strategy.
The primary purpose of the balance sheet is to:
a. Report the current value of the business. b. Measure the net income of a business up to a particular point in time. c. Report the difference between cash inflows and cash outflows for the period. d. Report the financial position of the reporting entity at a particular point in time.
A major disadvantage of markup pricing is that standard markups are not easy to apply
Indicate whether the statement is true or false