Explain the Usefulness of a Modify Bit

question 24

Essay

Explain the usefulness of a modify bit.

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Definitions:

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, part of a company's cash flow statement.

Indirect Method

A method of preparing the cash flow statement where net income is adjusted for changes in balance sheet accounts to calculate cash from operating activities.

Accounts Receivable

Funds that customers owe to a business for goods or services that have been provided but remain unpaid.

Inventory

The raw materials, work-in-process products, and finished goods that a company holds for the purpose of sale in the near future.