Governance Corporation Uses the Direct Method When Preparing Its Statement

question 53

Multiple Choice

Governance Corporation uses the direct method when preparing its statement of cash flows. Governance sold equipment with a carrying amount of $13,000 at a loss of $3,000. The amount to
Be reported on the statement of cash flows under "proceeds from the sale of capital assets" is:

• A) $10,000
• B) $3,000
• C) $13,000
• D) $16,000

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Definitions:

Sexual Orientation

An enduring pattern of romantic or sexual attraction to persons of the opposite sex, same sex, both sexes, or neither sex.

Ostracism

The act of excluding or shunning someone from a society or group.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered normal or standard in a particular group.

Organization Norms

Shared expectations and rules that guide behavior of members within an organization, shaping the organization's culture and dynamics.