A(n) ____________ Describes a Set of Well-Defined, Logical Steps That

question 157

Multiple Choice

A(n) ____________ describes a set of well-defined, logical steps that must be taken to perform a task.

• A) flowchart
• B) schematic
• C) algorithm
• D) outline

---

Definitions:

Financing Activities

Actions that result in changes in the size and composition of the equity capital or borrowings of a company, as reported in the cash flow statement.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by an independent organization for global use.

Operating Activities

Day-to-day actions that are involved in running a business, such as sales, purchasing, and paying expenses, that affect the company's cash flow.

Financing Activities

Transactions involving raising capital and repaying investors, including issuing equity, borrowing funds, and repaying debt, as part of the company's cash flow activities.