When using the indirect method, the gain from selling a long-term investment is recognized in which of the following?
a. In the operating activity section and the investing activity section of the statement of cash flows.
b. In the financing activity section of the statement of cash flows.
c. In the noncash investing or financing activity supplemental section of the statement of cash flows.
d. Gains are not recognized in the statement of cash flows under the indirect method.
a
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Olivia Greer is a partner in Made for You. An analysis of Greer's capital account indicates that during the most recent year, she withdrew $30,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year?
A. $180,000 B. $196,000 C. $170,000 D. $186,000 E. $154,000
When the seller has received cash, but has not earned all of the revenues represented by the cash by providing goods and services, the seller has incurred an obligation to provide goods or services. These liabilities
a. are referred to as deferred performance obligations. b. may use an account title of Advances from Customers. c. may use an account title of Deferred Revenues. d. may use an account title of Unearned Revenues. e. can be all of the above.
Which of the following provides the BEST opening line in a persuasive memo asking the company president to provide extra funds for advertising a new cat food line?
a. The purpose of this memo is to request that additional moneys be allocated to continue to advertise the new SmartCat product line. b. If SmartCat has the chance to build awareness, it will help the company exceed this year's sales goals. c. We all can agree that additional advertising funds will help a business grow. d. SmartCat can help you exceed this year's sales goals by 10 percent.
Independent contractors have no control over the details of their work performance.?
Indicate whether the statement is true or false