Monthly remittance of sales tax due has no effect on the income statement, but reduces cash flow from operating activities.
Answer the following statement true (T) or false (F)
True
Remittance of sales tax decreases assets (cash) and liabilities (sales tax payable). It does not affect the income statement. It is reported as a cash outflow for operating activities. (Recall that the collection of sales tax is reported as a cash inflow for operating activities).
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A) I only B) II only C) both I and II D) neither I nor II
What is an insider?
A. Malicious agents designed by spammers and other Internet attackers to farm email addresses off websites or deposit spyware on machines. B. Legitimate users who purposely or accidentally misuse their access to the environment and cause some kind of business-affecting incident. C. A form of social engineering in which one individual lies to obtain confidential data about another individual. D. A hacker looking through your trash to find personal information.
Which of the following could describe the effects of an asset exchange transaction on a company's financial statements? Assets=Liab.+EquityRev.?Exp.=Net Inc.Cash FlowA.NA=NA+NANA?NA=NA+OAB.+=NA++NA?NA=NA+FAC.?=NA+?NA?NA=NANAD.+=++NANA?NA=NA+FA
A. Option A B. Option B C. Option C D. Option D
The group of theories that explain how employees meet their needs and determine their success are called process theories.
a. true b. false