The payment of interest on a loan is considered a ________ on a statement of cash flows prepared using the direct method
A) cash outflow for operating activities
B) cash outflow for investing activities
C) cash outflow for financing activities
D) non-cash activity
A
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Which of the following is an approach to third-party negligence actions?
A. Strict privity approach B. Reasonable person approach C. Near privity approach D. No delegation approach
A holder is any person in possession of a negotiable instrument that is payable either to the bearer or to an identified person who is the person in possession
Indicate whether the statement is true or false
Broadnorf Warbeagle is specifically designated to receive cash benefits of $2,000 from Ferd under a contract solely between Cantwell and Ferd. Cantwell owes Broadnorf $4,000 . Ferd had never heard of Broadnorf before his recent contract with Cantwell. Warbeagle appears to be a
a. incidental beneficiary. b. creditor beneficiary. c. assignor. d. donee beneficiary.
Kesterson Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$6.20 Direct labor$3.10 Variable manufacturing overhead$1.35 Fixed manufacturing overhead $14,000Sales commissions$1.50 Variable administrative expense$0.40 Fixed selling and administrative expense $4,500 If 6,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:
A. $63,900 B. $64,800 C. $55,800 D. $80,700