Question

The starting point for preparing the operating activities section using the indirect method is ______. Multiple choice question. current liabilities current assets ending cash balance net income

Answer 1

Net income serves as the beginning point for the indirect technique of preparing the operating activities section.

What does "net income" mean?

Net income is the amount of money left over after all costs, such as salaries and wages, the cost of commodities or raw materials, and taxes, have been paid. Net income is the amount that a person keeps after paying taxes, health insurance premiums, and retirement contributions.

How is net income demonstrated?

Operating income for the business was $23,000 after operating costs of $12,500. After deducting interest expense of $1,500 and adding interest income of $1,700, ABYZ arrived at a net income before taxes of $23,200.

What is net income post-tax?

A person's income after taxes and deductions is referred to as their net income.

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