In preparing the operating activities section of the statement of cash flows by the indirect method, decreases in noncash current liabilities are added to net income.
Answer the following statement true (T) or false (F)
False
Increases in noncash current liabilities are added to and decreases in noncash current liabilities are subtracted from net income to determine net cash flow from operating activities.
You might also like to view...
Price elasticity of demand is the percent change in demand divided by a percent change in price
Indicate whether the statement is true or false
Which of the following is(are) point estimator(s)?
A. ? B. ? C. s D. ?
Bates Company entered into the following transactions during its first year in business. Assume that all transactions involve the receipt or payment of cash.1) Issued common stock to investors for $25,000 cash.2) Borrowed $18,000 from the local bank.3) Provided services to customers for $28,000.4) Paid expenses amounting to $21,400.5) Purchased a plot of land costing $22,000.6) Paid a dividend of $15,000 to its stockholders.7) Repaid $12,000 of the loan listed in item 2.Required:(a) Fill in the three column headings of the accounting equation in the first row of the table shown below.(b) Show the effects of the above transactions on the accounting equation.(a) ________ = ________ + ________(b) Event No.1)2)3)4)5)6)7)
What will be an ideal response?
Which of the following is not one of the four types of customers described in the case study on Graybar?
A) core customers B) opportunistic customers C) marginal customers D) service-drain customers E) niche customers