Elmore Company Uses the Direct Method to Prepare Its Statement

question 66

Multiple Choice

Elmore Company uses the direct method to prepare its statement of cash flows.Refer to the following financial statement information for the year ended December 31,2017:


Use the direct method,to compute the total net cash flow from operating activities.(Accrued Liabilities relate to other operating expense. )

• A)$(54,700)
• B)$38,700
• C)$(38,700)
• D)$54,700

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The pace at which one country's currency can be swapped for that of another, after accounting for inflation.

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The rate at which one currency can be exchanged for another currency, not adjusted for inflationary differences between the two currency areas.

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The official currency of the United Kingdom, also known as GBP (Great British Pound).

Real Exchange Rate

The rate at which one country's currency can be traded for another country's currency, adjusted for inflation.