Which of the Following Statements Is Most Likely to Be

question 61

Multiple Choice

Which of the following statements is most likely to be right?

• A) The method of preparing the operating activities section of a statement of cash flows which adjusts net income to remove the effects of deferrals and accruals for revenues and expenses is the direct method.
• B) The method of preparing the operating activities section of a statement of cash flows which reports its cash inflows from operations followed by its cash outflows for operations is the indirect method.
• C) The FASB prefers the indirect method of preparing the operating activities section of the statement of cash flows.
• D) Most companies use the indirect method of preparing the operating activities section of the statement of cash flows.

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Definitions:

Social Change

Transformations in the societal structures, norms, and values over time.

Technological Determinism

The belief that the technological advancements of a society shape its cultural norms, the organization of its social groups, and its historical development.

Social Constructivism

A theory of knowledge in sociology and communication theory that examines the development of jointly constructed understandings of the world.

Artificial Intelligence

A field of computer science focused on the development of technology that can perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.