Illinois Woodworking Company is preparing its statement of cash flows using the indirect method. During the year, Illinois Woodworking sold equipment for $5990 cash. The net book value of the asset was $4970. Which of the following statements is TRUE?
A) The gain on sale of $1020 is added back to net income in the operating activities section.
B) The book value of the asset sold is shown as a negative cash flow in the investing activities section.
C) The cash receipt of $5990 is shown as a positive cash flow in the investing activities section.
D) The gain on sale of $1020 is shown as a positive cash flow in the financing activities section.
C) The cash receipt of $5990 is shown as a positive cash flow in the investing activities section.
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Which of the following is an input control?
a. Reasonableness check b. Run-to-run check c. Spooling check d. Batch check e. None are input controls
What are the advantages and disadvantages of individual versus team rewards?
What will be an ideal response?
A lack of effective performance management in an organization can result in:
a. Increased turnover b. Unclear expectations c. Enhanced morale d. A & B only