The Inborn Traits or Characteristics We Inherit from Biological Parents

question 45

Multiple Choice

The inborn traits or characteristics we inherit from biological parents are our

• A) environment.
• B) individual differences.
• C) heredity.
• D) influences.

---

Definitions:

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from the total revenue.

Income Taxes Payable

Income Taxes Payable are the taxes that a company owes to the government, which have been incurred but not yet paid, appearing as a current liability on the balance sheet.

Operating Activities

The day-to-day actions related to running a business, encompassing sales, provision of services, and expenses that affect the company's net income.

Indirect Method

A technique used in cash flow statement preparation, adjusting net income for changes in accounts receivable, accounts payable, and depreciation to calculate cash flow from operating activities.