The comparative balance sheets of Midnite Corp for 2017 and 2016 indicate that short-term trade notes receivable increased from $5,000 in 2016 to $75,000 in 2017 . How will this change be reported on Midnite's statement of cash flows, if Midnite uses the indirect method?
a. It will be included in the amount of cash and cash equivalents at the end of 2017.
b. It will be reported as a deduction from net income in the operating activities section.
c. It will be reported as a cash outflow in the investing activities section.
d. It will be added to net income in the operating activities section.
b
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Answer the following statement true (T) or false (F)
At a sales volume of 38,000 units, Tirri Corporation's property taxes (a cost that is fixed with respect to sales volume) total $733,400. To the nearest whole cent, what should be the average property tax per unit at a sales volume of 37,300 units? (Assume that this sales volume is within the relevant range.)
A. $19.48 B. $19.72 C. $19.66 D. $19.30
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Indicate whether the statement is true or false
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What will be an ideal response?