Fact Finding Processes Are Not Static and They Have Evolved

question 25

Multiple Choice

Fact finding processes are not static and they have evolved over the years. A process sometimes used in 11th century in England was​

• A)truthing.
• B)Saxon-hunting.
• C)beaver tale.
• D)ordeal.

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Definitions:

Operating Activities

The primary day-to-day activities of a business involved in producing and selling its goods or services, reflected in the cash flow statement.

Indirect Method

A method used in cash flow statement preparation that adjusts net income for non-cash transactions and changes in working capital accounts to arrive at net cash flow from operating activities.

Increase in Cash

An upward movement in the cash balance of a business during a specific period of time.

Direct Method

In accounting, a cash flow statement preparation approach that lists specific cash inflow and outflow categories directly.