The Following Items Were Reported on the Balance Sheets and Income

question 72

Multiple Choice

The following items were reported on the balance sheets and income statement for Hawkeye Corporation: How would the change in accounts payable be reported in the operating activities section of Hawkeye's statement of cash flows under the indirect method?

• A) As an addition to operating expenses
• B) As a deduction from operating expenses
• C) As an addition to net income
• D) As a deduction from net income

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Definitions:

Contact Management Software

A software application designed to store, manage, and track all information and communications with customers and potential clients.

Orphaned Clients

Customers who no longer receive continuous follow-up or support from their original salesperson or customer service representative, often due to staff turnover.

Sales Lead Club

A Sales Lead Club is a group or platform where members share or exchange information about potential customers (leads) who may be interested in certain products or services.

Parallel Referral Sale

A sales strategy where referrals are used simultaneously across different channels or networks to boost potential sales opportunities.