A statement of cash flows based on the direct method is prepared by converting every number on the income statement to its cash amount

New Dimensions Athletic Association was formed to administer youth soccer leagues and tournaments in a popular urban area. All board members recently resigned stating that they could no longer assume the risk of participating on a board that did not insure its volunteer members against serious player injuries and other unanticipated problems. Collectively, these members are

A. self-insuring against risk.
B. filing a grievance against the association.
C. participating in risk reduction.
D. avoiding risk.

What shows international transactions that involve currently produced goods and services?

A) Current account B) Balance of payments C) Trade balance D) Capital account