GRI Performance Enterprises Uses the Direct Method When Preparing Its

question 78

Multiple Choice

GRI Performance Enterprises uses the direct method when preparing its statement of cash flows. GRI Performance sold equipment with a carrying amount of $8,000 at a gain of $2,500. The
Amount to be reported on the statement of cash flows in the operating activities section is:

• A) $2,500
• B) ($2,500)
• C) $10,500
• D) $0

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Definitions:

Money-Back Guarantee

A promise made by a seller to a buyer to refund the purchase price if the product does not meet certain specified criteria.

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Agreements or contracts that offer customers specific services, usually for a predetermined price and duration.

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A hidden camera used for monitoring interactions within one's home, especially for observing caregivers.