The Largest Difference Between the Mid-City Project and the Chicago

question 25

Multiple Choice

The largest difference between the Mid-City Project and the Chicago Area Project was that __________.

• A)the Mid-City Project relied heavily on psychiatric counseling techniques
• B)the length of the Chicago Area Project was long term while Mid-City was for three years
• C)both a and b
• D)the Mid-City Project was more successful than the Chicago Area Project

---

Definitions:

Depreciation

A method of allocating the cost of a tangible asset over its useful life.

Indirect Method

A method of presenting the cash flow statement where net income is adjusted for non-cash transactions and changes in working capital to arrive at cash flow from operating activities.

Net Income

The net earnings of a company once all costs and taxes are subtracted from the total income.

Indirect Method

An approach used in cash flow statement preparation that adjusts net income for changes in non-cash accounts to calculate cash from operating activities.