In Preparing Cash Flows Provided by Operating Activities Using the Indirect

question 37

Multiple Choice

In preparing cash flows provided by operating activities using the indirect method,which of the following is not deducted from net income?

• A)Gains on investing and financing transactions
• B)Increases in current asset balances
• C)Decreases in current liability balances
• D)Non-cash expenses such as depreciation

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Definitions:

Original Jurisdiction

The power of a court to hear a case for the first time, as opposed to appellate jurisdiction.

Concurrent Jurisdiction

The situation where two or more courts from different systems simultaneously have jurisdiction over a specific case.

U.S. Courts of Appeals

A group of federal courts that review decisions made by district courts, regulatory agencies, and other federal courts, except the Supreme Court.

Thirteen

The number following twelve and preceding fourteen, often considered unlucky in some cultures.