Given the Items Below,which of the Following Is a Subtraction

question 56

Multiple Choice

Given the items below,which of the following is a subtraction from net income to arrive at Operating Cash Flows using the indirect method?
I. Loss on sale of assets
II. Increase in Supplies
III. Increase in Accounts Payable
IV. Depreciation expense

• A) II. only.
• B) IV. only.
• C) I. and II.
• D) II. and III.

---

Definitions:

Duty-Based Ethics

An ethical philosophy rooted in the idea that every person has certain duties to others, including both humans and the planet. Those duties may be derived from religious principles or from other philosophical reasoning.

Duties

Obligations or responsibilities imposed by law, contract, or societal norms.

Ethics

A branch of philosophy dealing with what is morally right or wrong, encompassing moral principles that govern an individual's behavior or conducting an activity.

Law

A set of guidelines established and implemented by societal or government bodies to control conduct.