Reduce to Lowest Terms

question 45

Short Answer

Reduce to lowest terms.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting rules followed by companies across the globe for maintaining their financial statements.

Indirect Method

A method used in cash flow statements to adjust net income for the changes in non-cash accounts to arrive at operating cash flows.

Net Income

The total profit or earnings of a company after all expenses and taxes have been deducted from revenues.