This Generation Was Born Between 1946 and 1964

question 2

Multiple Choice

This generation was born between 1946 and 1964.

• A) The silent generation
• B) The swing generation
• C) The baby-boom generation
• D) Generation X

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Definitions:

Indirect Method

A way to report cash flows from operating activities by starting with net income and adjusting for non-cash transactions.

Accrual Earnings

Earnings that are recognized when revenues are earned and expenses are incurred, not necessarily when cash is received or paid.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

Direct Method

The Direct Method in accounting is a way to present the cash flow statement, showing actual cash receipts and payments, directly reporting major classes of gross cash receipts and payments.