A Gain on the Sale of a Fixed Asset Is

question 105

Multiple Choice

A gain on the sale of a fixed asset is reported on the statement of cash flows _____.

• A)as an adjustment to operating activities under the indirect method
• B)as an adjustment to operating activities under the direct method
• C)as an adjustment to operating activities, regardless of the method used
• D)None of these answers is correct.

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Definitions:

Acute Epiglottitis

A serious, life-threatening condition characterized by inflammation of the epiglottis, the flap at the base of the tongue that keeps food from going into the trachea during swallowing.

Obstruction

A blockage in a bodily passage preventing the normal flow of fluids or contents within the body.

Congenital Anomalies

Birth defects that can involve many different parts of the body including the brain, heart, lungs, liver, bones, and intestinal tract.

Hemopneumothorax

A medical condition involving a collection of blood and air in the pleural cavity, the space between the lung and the chest wall, often resulting from chest trauma.