Nelson Corp $\quad$ $\quad$ $\quad$ $\quad$ $\quad$

question 103

True/False

Nelson Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet:
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Nelson Corp..
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Comparative Balance Sheet
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ December 31, 2014 and 2013
$\begin{array}{lrrr} & 2014 & 2013& \text { Increase/decrease } \\\text { Accounts Payable } & \$ 8,000 & \$ 9,000 & \$( 1,000) \\\text { Accrued Liabilities } & 3,000 & 1,500 & (1,500) \\\text { Long-Term Notes Payable } & (56,000) &60,000 & (4,000) \\ \text { Total liabilities} & \$67,000 &\$70,000 & \$(3,500) \\\hline\end{array}$ The change in Accounts Payable will be shown as a negative cash flow in the adjustments to Net Income.

Understand the human interventions, like terracing, to prevent soil erosion and promote soil stability.

Understand the concepts and types of control mechanisms within organizations.

Identify and evaluate the importance of planning and strategy in effective management.

Comprehend Deming's contributions to quality management and his 14 points for management.

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Definitions:

Decades

Periods of ten years, often used to discuss and analyze historical trends and changes over time.

Misery Index

An economic indicator created by adding the unemployment rate to the inflation rate, intending to measure the health of a country's economy.

Year

A period of time consisting of 12 months or 365 days, used as a basic unit of time to calculate longer or shorter periods.

Hyperinflation

An extremely rapid and out of control inflation rate where prices increase exponentially over a short period, severely eroding the real value of money.