Van Cleef Company's Comparative Balance Sheet and Income Statement for Last

question 11

Multiple Choice

Van Cleef Company's comparative balance sheet and income statement for last year appear below: The company declared and paid $18,000 in cash dividends during the year. The company uses the direct method to determine the net cash provided by operating activities.
-On the statement of cash flows, the cost of goods sold adjusted to a cash basis would be:

• A) $429,000
• B) $360,000
• C) $410,000
• D) $460,000

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Definitions:

Dependent Variable

The variable in an experiment or study that is expected to change in response to manipulations of the independent variable.

Dummy Variable

A numeric variable used in regression models to represent categories of a qualitative variable with a series of zeros and ones.

Quantitative Variable

A quantitative variable is a type of variable that can be measured quantitatively and expresses a certain quantity, amount, or range.

Slope Coefficient

It is a number that measures the degree of relationship between a dependent variable and an independent variable in a regression model.