If a company reports net income on the income statement, then the statement of cash flows will report the same amount as cash flows from operating activities for the period.
Answer the following statement true (T) or false (F)
False
Net income is not the same as cash flows from operating activities. Net income is not necessarily equal to cash because revenues are reported when earned and expenses when incurred regardless of when cash is received or paid.
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Lenders are interested in the value of operating assets as collateral when making lending decisions
a. True b. False Indicate whether the statement is true or false
Principles of lean include ______.
A. willingness of managers to impose strict controls on workers B. elimination of waste and inefficiency C. avoiding government regulation D. ensuring that only the most essential products are manufactured
Travis had too many beers at the baseball game. Ed realized Travis was so intoxicated he wouldn't know what he was doing, so he got Travis to sign a promise to sell his motorcycle to Ed for $50 . When Travis gets sober, he may void the contract
a. True b. False Indicate whether the statement is true or false
Where the principal makes representations to a third party about the role that an agent is to play,
which kind of authority can be created? A) Inherent authority B) Apparent authority C) Express authority D) Authority by estoppel E) Implied authority