Thomas Edison

question 40

Multiple Choice

Thomas Edison:

• A) invented the typewriter.
• B) was a governor of New Jersey.
• C) pioneered the use of the telephone.
• D) was a railroad owner.
• E) invented, among other things, a system for generating and distributing electricity.

---

Definitions:

Accrued Liabilities

Expenses that have been incurred but have not been paid at the end of the accounting period.

Indirect Method

A accounting technique used to prepare the cash flow statement, converting net income into net cash flow from operating activities by adjusting for non-cash items and changes in working capital.

Net Income

Total earnings of a company after all expenses and taxes have been deducted from total revenue.

Note Receivable

A financial asset representing a written promise for a debtor to pay a specified sum of money to the creditor on a demand or at a future date.