Accounts Receivable Arising from Sales to Customers Amounted to $80,000

question 1

Multiple Choice

Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $212,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

• A) $212,000.
• B) $202,000.
• C) $222,000.
• D) $292,000.

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Definitions:

False Consensus Effect

The tendency to overestimate the extent to which others share our beliefs, attitudes, and behaviors.

Projection

a defense mechanism where individuals attribute their own unwanted thoughts, feelings, or motives to another person.

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The process of improving oneself through such means as enhancing personal skills, competencies, and self-awareness.

Carl Rogers

An influential American psychologist who founded client-centered therapy and emphasized the importance of a supportive therapeutic environment for psychological growth.