Probes Fall into Three Distinct Categories

question 3

Multiple Choice

Probes fall into three distinct categories.What are the categories? 1

• A)Proactive, reactive, inactive
• 2
• B)Proactive, reactive, spontaneous
• 3
• C)Reactive, active, spontaneous
• 4
• D)Proactive, spontaneous, inactive

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Definitions:

Prior Year

Prior year refers to the last completed fiscal or calendar year used as a reference point in financial and operational analysis.

Current GAAP

The most up-to-date set of Generally Accepted Accounting Principles that companies are required to follow when preparing financial statements.

Direct Method

A cash flow statement preparation approach that lists major categories of gross cash receipts and payments.

Operating Activities

refer to the primary revenue-generating activities of a business, including production, sales, and provision of services, reflected in its cash flow.