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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Most of the closing costs will usually be paid by the home [buyer | seller].
Indirect Method
A way of preparing a cash flow statement where net income is adjusted for changes in balance sheet accounts to calculate cash flow from operating activities.
Operating Activities
Transactions and events related to the primary operations of a business, such as revenue from sales and expenses from operations.
Accounts Receivable
Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Direct Method
A method of computing the net cash provided by operating activities in which the income statement is reconstructed on a cash basis from top to bottom.
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