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Social Security was established
Accounts Receivable
The amount owed to a business by its customers for goods or services that have been delivered but not yet paid for.
Net Income
The total revenue minus expenses, taxes, and costs, representing the profit of a company over a specific time period.
Direct Method
The direct method in accounting refers to a way of reporting cash flows from operating activities by directly listing major classes of gross cash receipts and payments.
Indirect Method
A technique used in cash flow statement preparation where net income is adjusted for non-cash transactions and changes in working capital to arrive at operating cash flow.
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