Maria Holds a Top Position in a Major Architectural Firm

question 5

Multiple Choice

Maria holds a top position in a major architectural firm based in Boston. In her upbringing, she is likely to have

• A) parents who encouraged her achievements.
• B) a mother who was a full-time homemaker.
• C) attended a fundamental or magnet high school.
• D) parents who encouraged her achievements and attended a fundamental high school.

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Definitions:

IFRS

International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial events are reported in financial statements globally.

GAAP

Generally Accepted Accounting Principles, standard guidelines and procedures for financial accounting and reporting in the U.S.

Indirect Method

A method used in cash flow statements where net income is adjusted for items that affected reported net income but did not result in an actual cash flow.

Direct Method

A cash flow statement presentation that lists actual cash inflows and outflows from operating activities.