Accounts Receivable from Sales to Customers Amounted to $40,000 and $32,000

question 55

Multiple Choice

Accounts receivable from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

• A) $118,000.
• B) $110,000.
• C) $102,000.
• D) $150,000.

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Definitions:

Ritualistic Behavior

Repetitive actions performed in a specific manner, often with symbolic significance or as part of a routine, sometimes observed in religious or daily activities and in certain disorders.

Emotions

Complex psychophysiological experiences of an individual's state of mind as interacting with biochemical and environmental influences.

Bipolar Disorder

An emotional health issue defined by pronounced changes in mood, encompassing moments of high (mania or hypomania) and low (depression) emotional states.

Lithium

A chemical element used as a medication to treat and prevent episodes of mania in people with bipolar disorder.