Lightning Electric Company Uses the Direct Method to Prepare Its

question 174

True/False

Lightning Electric Company uses the direct method to prepare its statement of cash flows.Lightning has reported operating expenses of $63,000 on its income statement for the year 2019.If the balance in accrued liabilities has increased by $6,000 during the year,then $6,000 needs to be added to $63,000 to calculate payments to suppliers for operating expenses.Accrued liabilities relate to operating expenses.

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Definitions:

Telegraphic Speech

A stage in language acquisition during early childhood, characterized by simple, concise sentences that usually lack grammatical elements but convey meaning.

Psychologists

Professionals who study mental processes and behavior through research and observation, often providing counseling and therapy.

Toddlers

Young children, typically aged between one and three years old, who are just beginning to walk and talk.

Language Acquisition

The process by which humans gain the capacity to perceive, produce, and use words to understand and communicate.