Your Friend Is Starting College and Wants to Take Good

question 69

Multiple Choice

Your friend is starting college and wants to take good notes. Which of the following would you NOT recommend?

• A) Write down everything your professor says
• B) Use an organizational structure
• C) Combine lecture and reading notes
• D) Re-package your notes after class

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Definitions:

Direct Method

A method of computing the net cash provided by operating activities in which the income statement is reconstructed on a cash basis from top to bottom.

Indirect Method

A method of computing the net cash provided by operating activities that starts with net income and adjusts it to a cash basis. It is also known as the reconciliation method.

Inventory

Raw materials, work-in-process, and finished goods that a company holds with the intent to sell or use in production.

Wages Payable

An account that records the amounts owed to employees for work performed that have not yet been paid.