Which of the following would be subtracted from net income when using the indirect method to derive net cash flows from operating activities?
a. Decrease in net accounts receivable
b. Loss on sale of investments
c. Decrease in salaries and wages payable
d. Depreciation expense
C
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The type of service retailing that most closely resembles goods-based retailing involves _____ services
a. professional b. rented-goods c. owned-goods d. nongoods
The most significant cause of inadequate documentation is that managers often do not know what constitutes good documentation.
Answer the following statement true (T) or false (F)
Which of the following is true about the price-earnings (P/E) ratio of a firm?
A. The higher the P/E ratio, the less investors are willing to pay for each dollar earned by the firm. B. If a firm's P/E ratio is 8, then, it would take 8 years for an investor to double his or her initial investment. C. The appropriate value of P/E ratio is multiplied by the earnings per share (EPS) to estimate the appropriate stock price. D. If a company's P/E ratio is too high relative to that of similar firms, its earnings have not been fully captured in the existing stock value. E. If the firm's P/E ratio is too low relative to that of similar firms, it means that the market has overvalued its current earnings.
_____ provide analysis and prepare reports and financial statements for their organization.
A. Public accountants B. Management accountants C. Government accountants D. Forensic accountants