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Urban Installations Company Uses the Direct Method to Prepare Its

question 147

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Urban Installations Company uses the direct method to prepare its statement of cash flows.Urban has reported cost of goods sold of $95,000 on its income statement for 2018.If the balance in the Merchandise Inventory account decreased by $6,000 during the year,then $6,000 needs to be added to $95,000 to calculate payments to suppliers for inventory purchases.

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Definitions:

Deception

The act of misleading or deceiving someone by presenting false information or concealing the truth.

Ethics Guidelines

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A large scientific and professional organization of psychologists in the United States, dedicated to advancing psychology as a science and profession.

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The process of providing participants with an explanation of the study's purpose and methods after its completion.

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