A Uniform Image Is Important for Chain Units and ________

question 35

Multiple Choice

A uniform image is important for chain units and ________.

• A) corporate-owned units
• B) independently owned units
• C) franchises
• D) partnership-owned units

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Definitions:

Indirect Method

A way of preparing the cash flow statement where net income is adjusted for non-cash transactions, deferred incomes, and the change in working capital.

Direct Method

A way of presenting the cash flow statement where major classes of gross cash receipts and cash payments are disclosed, providing insight into specific cash flow activities.

Indirect Method

A financial accounting technique used in cash flow statements to adjust net income for the effects of non-cash transactions.

Current GAAP

Generally Accepted Accounting Principles as they are presently defined and practiced in the United States for financial reporting.