The Backup File

question 20

Multiple Choice

The backup file:

• A)Is made from the old master file.
• B)Is important to keep.
• C)Does not include the updates to the master file.
• D)All of the above.

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Definitions:

Indirect Method

A cash flow statement approach that adjusts net income for the changes in balance sheet accounts to calculate the cash from operating activities.

Cash Flows

Cash Flows refer to the inflows and outflows of cash and cash equivalents, indicating a company's ability to generate funds to support its operations and finance its investments.

Direct Method

A way of reporting cash flows from operating activities by listing major categories of gross cash receipts and payments.

Biological Control

The use of living organisms to control pests, diseases, or invasive species in a natural and environmentally friendly manner.