Albers Enterprises Uses the Direct Method When Preparing Its Statement

question 49

Multiple Choice

Albers Enterprises uses the direct method when preparing its statement of cash flows. Albers sold equipment with a book value of $51,000 at a gain of $7,000. The amount to be reported on the statement of cash flows under "proceeds from the sale of plant assets" is:

• A)$51,000.
• B)$44,000.
• C)$58,000.
• D)$7,000.

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Definitions:

Common Goals

Shared objectives or aims that unite a group or team, fostering collaboration and driving collective effort towards achieving these targets.

Mutual Purpose

A shared goal or interest among individuals or groups, creating a foundation for cooperative and collaborative efforts.

Similar Personalities

Individuals who exhibit comparable traits, behaviors, and characteristics.

Extrinsic Motivation

A type of motivation driven by external rewards, such as money, fame, grades, and praise, rather than internal factors like personal satisfaction or enjoyment of the task.