Using the Direct Method of Preparing the Statement of Cash

question 75

Multiple Choice

Using the direct method of preparing the statement of cash flows,to determine the cash effects of operating activities,which of the following needs to be adjusted?

• A)Net income
• B)Reported revenues and expenses
• C)Long-term assets and liabilities from the balance sheet
• D)Equity as reported in the balance sheet

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Definitions:

ENFP Myers-Briggs Profile

A personality type in the Myers-Briggs Type Indicator characterized by traits of Extraversion, Intuition, Feeling, and Perceiving.

Extraverted

A personality trait characterized by outgoing, sociable behavior, where individuals gain energy from social interaction and external stimulation.

Emotions

Strong feelings directed toward someone or something.

Open Person

An individual who exhibits openness to experience, characterized by a willingness to try new things, think creatively, and be receptive to different ideas.