Parmesan Company Uses the Direct Method for Its Statement of Cash

question 14

Multiple Choice

Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year 2014: From the income statement:
Sales Revenues, $265,000
Cost of Goods Sold, $210,000
Operating expenses, $31,000
From the balance sheet: On the statement of cash flows, what amount will be shown for collections from customers?

• A)$261,700
• B)$268,300
• C)$265,000
• D)$32,300

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Definitions:

Personality

Personality encompasses the unique set of emotional, attitudinal, and behavioral response patterns of an individual, which are influenced by genetic, environmental, and developmental factors.

Gender Schemas

Cognitive structures that reflect the perceived societal expectations and beliefs about gender roles and behaviors.

Temperament

A person's natural temperament or characteristic way of behaving and responding emotionally.

Peer Influences

The impact that peers, or individuals of similar age, can have on an individual’s beliefs, behaviors, and attitudes.