If the direct method is used to prepare a statement of cash flows, the cost of goods sold from the income statement will be adjusted
A) for changes in inventory to arrive at net purchases.
B) for changes in accounts payable to arrive at cash payments for purchases.
C) Both of these choices.
C
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Management accounting information is determined objectively and is verifiable, whereas financial accounting is more subjective
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. The purpose of a commercial bank is to make a profit. 2. Commercial banks are the only legal system that can accept deposits from customers and provide them a checking account. 3. Mutual savings banks are depositor-owned, and are primarily concentrated in the New England states, New York, and New Jersey. 4. Only institutions that provide banking services qualify as financial institutions. 5. Insurance companies, pension funds, large brokerage houses, and consumer finance companies are all classified as nonbanking financial institutions because they act as sources and users of funds.
Scenario 8.3 Use the following to answer the questions. The United States believes China is selling its steel products in the U.S. at unfairly low prices. For many years, domestic steelmakers have complained, saying that they cannot compete against the influx of Chinese steel entering the market. China denies that it is engaging in such behavior. However, the United States has announced that imports of Chinese steel products will now be more expensive-in some cases, by as much as 265.79%. American steelmakers believe this is the only way they will be able to compete against Chinese steel imports. Refer to Scenario 8.3. According to the United States, what practice are Chinese steel importers engaging in that provides them with an unfair advantage?
A. Dumping B. Quotas C. Direct ownership D. Exchange controls E. Cultural relativism
What are two-tier pay plans?
What will be an ideal response?