Net Income for the Year Was $45,500

question 96

Multiple Choice

Net income for the year was $45,500. Accounts receivable increased by $5,500, and accounts payable increased by $11,200. Under the indirect method, the cash flow from operations is

• A) $51,200
• B) $45,500
• C) $62,200
• D) $28,800

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Definitions:

Plessy v. Ferguson

A landmark United States Supreme Court decision that upheld the constitutionality of racial segregation laws for public facilities under the doctrine of "separate but equal."

Rights

Legal, social, or ethical principles of freedom or entitlement; that is, rights are the fundamental normative rules permitting or obliging actions.

Juvenile Court

A court of law responsible for the trial or legal supervision of children under a certain age, typically involved in criminal cases or welfare issues.

Local Government

Administrative bodies in smaller geographical areas within a country that govern at a local level, beneath the state or national level.