Use the Information Below for Washington Company to Answer the Following

question 45

Multiple Choice

Use the information below for Washington Company to answer the following questions.
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The following selected account balances appeared on the financial statements of Washington Company:
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Washington Company uses the direct method to calculate net cash flow from operating activities.
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-Cash collections from customers were

• A) $56,000
• B) $52,000
• C) $60,000
• D) $45,000

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Definitions:

Information Technology

This is the use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Virtual

Pertains to something that is not physically existing but made by software to appear to do so, often used in the context of virtual reality or virtual meetings.

Empowerment

Giving employees authority and responsibility to make decisions about their work.

Insider Trading

The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information.