The Method of Reporting Preferred by U.S.GAAP Is/are

question 106

Multiple Choice

The method of reporting preferred by U.S.GAAP is/are

• A)the direct method.
• B)the indirect method.
• C)both the direct method and the indirect method.
• D)the schedule of cash receipts and cash disbursements.
• E)the funds flow statement.

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Definitions:

Digital Currency

A form of currency that is available only in digital or electronic form, not in physical form like paper money or coins.

Electronic Mall

A collection of individual shops under one Internet address; also known as a cybermall or an e-mall.

Individual Shops

Small retail outlets owned or operated by individuals or families, often offering specialized goods or services.

Forward Auctions

Auctions that sellers use as a selling channel to many potential buyers; the highest bidder wins the items.