Use the Following Codes to Indicate How the Cash Flow

question 101

Multiple Choice

Use the following codes to indicate how the cash flow effect, if any, of each transaction or event would be reported on a statement of cash flows if the operating activities section is prepared using the indirect method. (Choices may be used more than once.)
-Issued a twenty-year mortgage note for cash.

• A)Operating activity--add to net income
• B)Operating activity--deduct from net income
• C)Inflow from investing activity
• D)Outflow from investing activity
• E)Inflow from financing activity
• F)Outflow from financing activity
• G)Noncash investing and financing activity
• H)Not reported on statement of cash flows

Recognize the various fee arrangements between lawyers and clients, including contingency fees.

Grasp the roles and responsibilities in the lawyer-client relationship, including decision-making and confidentiality.

Understand procedures and consequences related to lawyer misconduct and client complaints.

Acknowledge the significance of core ethical values and principles in constructing a business code of conduct.

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Definitions:

Product Liability

The legal obligation of manufacturers, distributors, suppliers, and retailers to compensate for injury or damage caused by defective products.

Due Care

The level of judgment, attention, and diligence reasonably expected of a person under certain circumstances.

Product Liability

Legal responsibility held by the manufacturer or seller of a product for injuries caused by defects or malfunctions of the product.

Negligence

The lack of due diligence that a reasonable person would demonstrate under comparable conditions, leading to injury or damage.