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2 years ago

6

The only skill required of managerial accountants is that they have a solid knowledge of both financial and managerial accountin

g. Question content area bottom Part 1 True False

1 answer:

slava [35]2 years ago

8 0

Answer:

It's false

Explanation:

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When preparing the statement of cash flows using the indirect method, which statement is INCORRECT? A. Losses on the sale of l

ExtremeBDS [4]

Answer:

The correct answer is Option A.

Explanation:

A. Losses on the sale of longminusterm assets are subtracted from net income - This is incorrect because on losses on sale of an asset are usually added to the net income to avoid double-counting of income. Under the investing section of the cash flows, the proceed received on disposal is recorded there as inflow, if the losses realized on the disposal are subtracted, there would be a double-counting because the losses had already reduced the net income before.

B. Increases in current liabilities are added to net income - This is an inflow of cash, so it is usually added back.

C. Depreciation expense is added to net income - The explanation under Option A above applies but only that depreciation is a non-cash item, which already reduced the net income and it has to be added back to reinstate the net income.

D. Gains on the sale of longminusterm assets are subtracted from net income - Explanation under Option A applies.

3 0

3 years ago

39. You expect to receive $5,000 in 25 years. How much is it worth today if the discount rate is 5.5%?

ivann1987 [24]

Answer:

PV= $1,311.17

Explanation:

Giving the following information:

Future Value (FV)= $5,000

Number of periods (n)= 25 years

Interest rate (i)= 5.5% compounded annually

T<u>o calculate the present value (PV), we need to use the following formula:</u>

<u></u>

PV= FV / (1+i)^n

PV= 5,000 / 1.055^25

PV= $1,311.17

6 0

3 years ago

Cold Duck Airlines flies between Tacoma and Portland. The company leases planes on a year-long contract at a cost that averages

larisa [96]

Answer:

The answer is: D) continue flying until the lease expires and then drop the run.

Explanation:

Currently Cold Duck Airlines is losing money:

revenue < total costs

It only gets $1,000 in revenue per flight but spends $1,150 per flight (net loss of $150 per flight).

They should continue flying only until the lease contract expires. Usually lease contracts apply penalties if they are terminated early. We don't know the penalty amount but still it is never good to breach a contract.

3 0

3 years ago

You become the teacher in that classroom for that day. your employer, principals, secretaries, teachers, paraprofessionals and s

Inessa [10]

You become the teacher in that classroom for that day. your employer, principals, secretaries, teachers, paraprofessionals, and students all count on you. this important quality is trust

This is further explained below.

<h3>What is a teacher?</h3>

Generally, A person who assists pupils in acquiring information, expertise, or virtue is referred to as a teacher, sometimes known as a schoolteacher or, more technically, an educator.

In a more relaxed setting, anybody may act in the role of a teacher.

In conclusion, You take on the role of the educator in that classroom for the duration of that day.

Everyone, including your boss, the administrators, secretaries, teachers, and paraprofessionals, as well as pupils, depends on you. This crucial characteristic is trustworthiness.

Read more about teacher

brainly.com/question/14071718

#SPJ1.

8 0

2 years ago

Approximately 2.2 million American workers are employed as customer service representatives.

bonufazy [111]

Answer:

the answer is true hope this helps

4 0

3 years ago

Read 2 more answers