The Change in Each of Kendall Corporation's Balance Sheet Accounts

question 54

Multiple Choice

The change in each of Kendall Corporation's balance sheet accounts last year follows: Kendall Corporation's income statement for the year was: There were no sales or retirements of property, plant, and equipment and no dividends paid during the year. The company pays no income taxes and it did not purchase any long-term investments, issue any bonds payable, or repurchase any of its own common stock. The net cash provided by operating activities on the statement of cash flows is determined using the direct method. Using the direct method, sales adjusted to a cash basis would be:

• A)$300,000
• B)$302,000
• C)$298,000
• D)$305,000

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Definitions:

Depression

A psychiatric disorder defined by ongoing feelings of depression or a diminished interest in tasks, resulting in substantial interference with daily activities.

Behavior Pattern

Repeated ways of acting or reacting that are characteristic of an individual or group.

Hostility

An expression of anger, aggression, or resentment towards others, often manifesting in antagonistic or confrontational behavior.

Type A

A personality type characterized by high levels of competitiveness, self-drive, impatience, and a constant sense of urgency.