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Conditional outcomes refer to those where the probability of one outcome is independent of the probability of the occurrence of the second outcome.
Cash Received
The total amount of cash received by a company during a specific period from all its activities, including operations, investments, and financing.
Direct Method
In accounting, the direct method is a way of reporting cash flows from operating activities by listing major categories of gross cash receipts and payments.
Income Taxes Payable
The amount of federal, state, or local taxes that a company is obligated to pay to the tax authorities, based on its earnings, within the current accounting period.
Income Tax Expense
The cost incurred by businesses or individuals due to income taxes.
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