Gil Runs in Local Marathons

question 137

Short Answer

Gil runs in local marathons.Whenever he wins,Gil congratulates himself for training so hard.Whenever he loses,however,Gil consoles himself by telling himself that his job has kept him so busy he has NOT been able to train enough recently.Gil is exhibiting ___.

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Definitions:

Direct Method

An approach to preparing the cash flow statement that lists actual cash inflows and outflows from operating activities.

Operating Activities

The day-to-day actions and transactions that relate to the primary operations of a business, such as sales and purchasing.

Cash Payments

Cash payments refer to transactions where cash is transferred from one party to another, typically as a method of settling debts or paying for goods and services.

Direct Method

A cash flow statement preparation approach that lists major classes of gross cash receipts and payments, providing a clear view of a company's operating cash flows.