Under the Indirect Approach,adjustments Must Be Made to Net Income

question 58

Multiple Choice

Under the indirect approach,adjustments must be made to net income in the operations section for all of the following items,except

• A)depreciation.
• B)gain on the sale of equipment.
• C)loss on the sale of land.
• D)proceeds for the issuance of preferred shares.

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Definitions:

Solid-Waste Problem

The challenge related to managing and disposing of the increasing volume of solid waste generated by human activities.

Microwave Dinners

Pre-packaged frozen or refrigerated meals that are designed to be quickly heated and eaten, typically in a microwave oven.

Landfill Space

A designated area where waste is disposed of by burying it and covering it over with soil.

Tragedy Of The Commons

An economic theory describing how individual users acting independently according to their own self-interest behave contrary to the common good by depleting or spoiling shared resources.