An Increase in Accounts Receivable of $6,000 for the Year

question 63

Multiple Choice

An increase in accounts receivable of $6,000 for the year

• A)decreases cash flow from operations by $3,000.
• B)increases cash flow from operations by $3,000.
• C)decreases cash flow from operations by $6,000.
• D)increases cash flow from operations by $6,000.

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Definitions:

Adjustment Needed

A modification required to correct an accounting record or financial statement to accurately reflect the financial position of an entity.

IFRS Financial Statements

Financial statements prepared in accordance with International Financial Reporting Standards, which provide a global framework for how public companies prepare and disclose their financial statements.

First Time

Refers to an event or measurement taken for the first time, often signifying a new milestone or initial occurrence within a specific context.

Preparing

The act of making something ready for use or consideration, often in the context of assembling financial statements or reports.