The __________ Spec, Also Called the Technical Spec, Is Important

question 62

Multiple Choice

The __________ spec, also called the technical spec, is important to managers because it identifies how the business process will be implemented in as much detail as possible.

• A) Evaluation
• B) Implementation
• C) Project
• D) Design

Assess the effects of changes in inventory valuation methods on financial statements.

Understand the classification of different types of activities in a statement of cash flows (operating, investing, and financing activities).

Identify adjustments needed for the computation of cash flows from operating activities using the indirect method.

Determine the effects of specific financial events on the net cash flow according to the statement of cash flows.

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Definitions:

Incremental Changes

Small or minimal adjustments or changes that are made to improve a process, product, or system over time.

Replacement Projects

Projects undertaken by a company to replace old or obsolete assets in order to maintain or improve current operations.

Working Capital

The difference between a company's current assets and current liabilities, indicating its short-term financial health and efficiency.

Corporate Tax Rate

A percentage of a corporation's profits taken as tax by the government.