When preparing the operating activities section of the statement of cash flows using the direct method, a gain or loss from selling equipment is reported in the operating activities section of the statement of cash flows.
Answer the following statement true (T) or false (F)
False
The direct method converts revenues to cash inflows and expenses to cash outflows. Since a gain is a noncash revenue and a loss is a noncash expense, they would not appear in the operating activities section of the statement of cash flows prepared using the direct method.
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________ is an interviewer characteristic described as "works hard and sees work as more than a job, but an expression of oneself."
A) Work orientation B) Aptitude C) Third ear D) Ability to woo E) Expressiveness
PCAOB Auditing Standard 5 does not identify which of the following situations as one in which the auditor will modify the audit report on ICFR effectiveness?
a. When there is a restriction on the scope of the engagement. b. When there is other information contained in management's annual report on ICFR. c. When elements of management's annual report on internal control are incomplete or improperly presented. d. When the annual report includes a copy of the annual certification pursuant to Section 302 of the Sarbanes-Oxley Act.
Which of the following is not true?
A. The departmental overhead rate method is more refined than the plantwide overhead rate method. B. The departmental overhead rate method is more costly to implement than the plantwide overhead rate method. C. Overhead costing accuracy is improved by the use of multiple departmental rates rather than a single overhead rate. D. The departmental overhead method assigns overhead on the basis of volume-related measures. E. The departmental overhead rate method does not assign overhead on the basis of volume-related measures.
Damages for age discrimination include:
a) mental anguish over being terminated b) pension contributions c) reinstatement d) b&c e) all