The Net Income Reported on the Income Statement for the Current

question 3

Multiple Choice

The net income reported on the income statement for the current year was $310,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

• A)$233,000
• B)$289,000
• C)$387,000
• D)$331,000

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Definitions:

Repressed Material

Memories, thoughts, or impulses unconsciously held out of awareness due to their threatening nature.

Psychoanalysis

Psychoanalysis is a therapeutic approach and theory of mental illness that attributes thoughts and behaviors to unconscious motives and conflicts.

Transference

In psychoanalysis, the tendency for a patient or client to project positive or negative feelings for important people from the past onto the therapist.

Countertransference

In psychotherapy, it refers to the emotions and projections that the therapist may feel towards the patient.