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Pachacha [2.7K]
2 years ago
10

If a company is using the indirect method to prepare the statement of cash flows, a decrease in the inventory account should be

reported as:
Business
1 answer:
zubka84 [21]2 years ago
3 0

If a company is using the indirect method to prepare the statement of cash flows, a decrease in the inventory account should be reported as a decrease in cash flows from operating activities.

<h3>An indirect method to prepare the statement of cash flows</h3>
  • The statement of cash flows is prepared indirectly by adjusting net income for changes in balance sheet accounts in order to determine the amount of cash generated by operational activities.
  • One of the parts of a firm's set of financial statements, the statement of cash flows, is used to show where a company gets its money from and what it does with it.
  • It provides details on the cash generated by operations and the impact of various balance sheet modifications on a company's cash position.
  • The indirect mode of presenting is particularly common since the data needed for it can be gathered rather quickly from the accounts that a company typically has in its chart of accounts.

To learn more about the indirect method to prepare the statement of cash flows refer to:

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Answer:

c

Explanation:

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Afina-wow [57]

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8 0
1 year ago
If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a h
goldfiish [28.3K]

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday): TRUE

<h3>What are tax returns?</h3>
  • A tax return is a form or form that is filed with a tax authority and discloses income, expenses, and other relevant tax information.
  • Tax returns enable taxpayers to assess their tax liability, plan their tax payments, and receive refunds for overpayments.
  • In most nations, an individual or corporation having a reportable income, such as wages, interest, dividends, capital gains, or other profits, must file an annual tax return.
  • For example, if April 15th comes on a Saturday, the deadline for individual tax returns is April 17th (assuming it is not a holiday).

Therefore, the statement "if April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday)" is TRUE.

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Complete question:

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday). TRUE or FALSE

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2 years ago
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