The comparative balance sheets of Midnite Corp for 2015 and 2014 indicate that short-term trade notes receivable increased from $5,000 in 2014 to $75,000 in 2015 . 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 2015.
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
You might also like to view...
Specialists work together to achieve ________ in a highly integrated organization.
A. assimilation B. a common goal C. differentiation D. decentralization E. centralization
In terms of a foundation and framework for ethical guidelines, homeostasis:
A) involves maximizing pleasure and minimizing pain B) offers a version of philosophy based on the Golden Rule, which means do unto others what you would have them do unto you C) involves balancing a variety of urges throughout a person's life D) offers guidelines regarding right and wrong as well as what is acceptable and what is not acceptable, within a geographic area
The Consumer Leasing Act:
A. applies to leases of consumer goods if the total contractual obligation exceeds $25,000. B. requires the creditor to disclose the aggregate costs of leasing consumer goods. C. applies to leases of consumer goods only if the leases are for more than three months. D. does not require the lease agreement to define the consumer's liability.
Hyphenate two or more words that act together to create a new ______________
a. meaning b. action c. directive d. transition