The Following Selected Account Balances Appeared on the Financial Statements

question 92

Multiple Choice

The following selected account balances appeared on the financial statements of the Washington Company: The Washington Company uses the direct method to calculate net cash flow from operating activities.
Cash collections from customers are

• A) $56,000
• B) $52,000
• C) $60,000
• D) $45,000

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Definitions:

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production like buildings and machinery.

Turkmenistan

A country located in Central Asia, bordered by the Caspian Sea and largely covered by the Karakum Desert.

Prospective Memory

The element of memory that facilitates the remembering of actions or intentions scheduled for a forthcoming time.

Perform Actions

Executing or carrying out tasks or operations through physical or mental efforts.