Pastel Paints Company Uses the Direct Method for Its Statement

question 152

Multiple Choice

Pastel Paints 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 payments to suppliers for operating expenses? (Assume that Accounts Payable are for purchases of inventory only and Accrued Liabilities relate to Operating Expenses.)

• A)$33,500
• B)$28,500
• C)$29,500
• D)$35,000

Understand the effect of taxes on the burden shared between employers and employees.

Analyze how the elasticity of demand and supply influences the outcomes of tax policies.

Understand the stages and substages of Piaget's theory of sensorimotor development.

Describe the development of object permanence and its significance in cognitive development.

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Definitions:

Scarcity

A situation in which available resources are insufficient to satisfy all wants and demands.

Recessions

Periods of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in successive quarters.

Macroeconomics

The branch of economics that is concerned with the overall ups and downs in the economy.

Computer Engineers

Professionals who design, develop, and test computer systems and components such as processors, circuit boards, memory devices, and networks.