Table 17 -5
Parmesan Company Uses the Direct Method for Its

question 47

Multiple Choice

Table 17 -5
Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year 2017:
From the income statement:
$$\begin{array} { l l } \text { Revenues: } & \$ 240,000 \\\text { Cost of goods sold: } & \$ 190,000 \\\text { Operating expenses: } & \$ 25,000\end{array}$$ $\begin{array}{lcc}\text { From the balance sheet: } & \text { Beginning balance } & \text { Ending balance } \\\text { Accounts receivable: } & \$ 12,000 & \$ 15,000 \\\text { Inventory: } & \$ 22,000 & \$ 18,000 \\\text { Accounts payable: } & \$ 7,000 & \$ 12,000 \\\text { Accrued liabilities: } & \$ 3,000 & \$ 1,200\end{array}$ Note: accounts payable relate to inventory purchases; accrued liabilities relate to operating expenses
-Refer to Table 17-5.On the cash flow statement,what amount will be shown for collections from customers?

• A) $237,000
• B) $243,000
• C) $240,000
• D) $50,000

Outline the principles of negligence, including the standard of proof required in negligence actions.

Evaluate legal principles related to the duty of third parties to take affirmative action to prevent harm.

Understand contributory negligence and the doctrine of last clear chance in the context of negligence law.

Comprehend the objective nature of the reasonable person standard in determining negligence.

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Definitions:

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A marketing partnership between two or more brands to offer a product or service that leverages the strength of each brand's market presence and reputation.

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Hershey Company

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A marketing strategy that involves a company using two or more brands to offer similar products or services to capture a larger market share.