ReNew Corporation Had Accounts Receivable of $90,000 at the Beginning

question 84

Multiple Choice

ReNew Corporation had accounts receivable of $90,000 at the beginning the year and $100,000 at the end of the year. Sales on account for the year amounted to $465,000. The amount to be reported on the statement of cash flows under the operating activities is:

• A)$475,000.
• B)$ 10,000.
• C)($10,000).
• D)$455,000.

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Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed; typically developed during infancy.

Abstract Thinking

The ability to think about objects, principles, and ideas that are not physically present. It involves processing complex concepts, making generalizations, and understanding metaphors and analogies.

Sequential Intellectual Stages

Phases of cognitive development through which individuals progress, one after the other, each stage building upon the achievements of the previous ones.

Piaget

is associated with Swiss psychologist Jean Piaget, known for his pioneering work in the study of child development and cognitive psychology.