List Two Distinct Examples of Significant Noncash Transactions and Two

question 17

Essay

List two distinct examples of significant noncash transactions and two distinct examples of transactions not reported directly on a statement of cash flows

---

Definitions:

Physical Inventory

The process of counting the actual goods or materials a business holds in stock as a way to verify stock levels and value.

Estimated Returns Inventory

The projection of goods that are expected to be returned by customers within a specific period, considered in inventory and financial planning.

Cost of Goods Sold

The cost of goods sold represents the direct costs attributable to the production of the goods sold by a company.

Physical Inventory

A process where a company counts its actual inventory to ensure accuracy in its financial records.