GRI Performance Enterprises Uses the Direct Method When Preparing Its

question 131

Multiple Choice

GRI Performance Enterprises uses the direct method when preparing its statement of cash flows.GRI Performance sold equipment with a book value of $8,000 at a gain of $2,500.The amount to be reported on the statement of cash flows in the operating activities section is:

• A) $0
• B) ($2,500)
• C) $2,500
• D) $10,500

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Definitions:

Cyclist

An individual who rides a bicycle, whether for transportation, recreation, sport, or fitness.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically better on simple or well-practiced tasks and worse on complex or new ones.

Well-Learned Tasks

Skills or activities that have been practiced to a point of high proficiency, often performed automatically or with little conscious thought.

Individual Performance

Refers to the execution of tasks and duties by a single person in any given context, including work, school, or sports.