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

question 42

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 income tax expense adjusted to a cash basis would be:

• A) $10,000
• B) $33,000
• C) $56,000
• D) $22,000

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Definitions:

Workflow

The movement of work from one point to another in a system.

System

A set of interrelated components that function together towards achieving a particular goal or set of objectives.

Process Reengineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance, such as cost, quality, service, and speed.

Control

The process of directing, regulating, or managing activities to achieve certain objectives.