A Person Came Up with an Idea for a New

question 1

Multiple Choice

A person came up with an idea for a new product even though she was not actively searching for it. This represents the idea of

• A) shortcuts.
• B) alertness.
• C) social networks.
• D) Kirzner analysis.
• E) confluence approach.

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Definitions:

Cash Collections

The process of gathering all cash received during a period, including sales revenues and other income.

Worksheet

A multiple-column form that may be used in making adjusting entries and in preparing financial statements.

Statement of Cash Flows

A financial statement that provides aggregate data regarding all cash inflows and outflows a company receives.

Indirect Method

A way of reporting cash flows from operating activities by starting with net income and adjusting for non-cash transactions.