The net cash provided by operating activities using the indirect method would be: c. $50,000.
Net Cash From Operating Activities
Net income $45,000
Depreciation expense $9,000
Decrease in accounts payable ($2,500)
Decrease in inventory $3,000
Increase in accounts receivable ($4,500)
Net cash provided by operating activities $50,000
Inconclusion the net cash provided by operating activities using the indirect method would be: c. $50,000.
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Answer:
C.
Explanation:
The best test to detect register disbursement schemes would be to Identify customer sales posted to one credit card and refunds posted to another credit card. This is because a register disbursement scheme is a type of fraud in which the employee replicates an old transaction with a new one while at the same time replacing the transaction type from debit to credit and vice-versa, in order to justify the cash withdrawal.
The answer is formal group. A formal group is a cluster or
group of individuals, who decided to work together to achieve and reach a specific
goals. Formal groups are made of individuals committed to fulfill tasks.
According to the given example, this group is created to produce and develop a
new series of skincare products specifically for the individuals over the old
age of sixty (60), the example states that the group is created to develop a
new-line of skincare products, so it is to be considered that the group being
referred to is the formal group, it has indicated that there is a specific goal
that is set for different individuals to come together and fulfill a specific
goal.
Answer:
Programmed decision making
Explanation:
A programmed decision is one that is done by following already laid down rules and procedures. They are Carried out using formal patterns and the goals here are both clear and specific. These rules and routines in UPS are are a good example of how programmed decisions are done. As it can be seen on every aspect of their day to day business activities.
Answer:
The LCNRV basis is justified because of a decline in the selling price of the inventory item
Explanation:
The accounting standard for Inventory under IFRS IAS 2 requires that inventory be recognized at cost which includes all the cost incurred to bring the item of inventory to a state or place where the item of inventory becomes available for sale.
These costs includes cost of purchase, freight, Insurance cost during transit etc.
Subsequently, inventory is to be carried at the lower of cost or net realizable value.
This is justified where there is a decline in the selling price of inventory as it ensures that the amount stated in the books is fairly representative of the amount that may be realized from the sale of the inventory items.
