Preparing a journal entry in proper form involves all the following except:
A. Listing all accounts debited before any credits.
B. Computing the balances in accounts involved in the transaction.
C. Indicating the date of the transaction.
D. Providing a brief written explanation of the transaction.
B
Business
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To prepare a statement of cash flows (indirect method), which of the following items should be added back to net income to derive "cash flow from operating activities?"
A. Depreciation expense. B. Increase in accounts receivable. C. Loss on a sale of equipment. D. Two of the above are correct.
Business
Giving opinions and vague impressions allows the reader to form their own opinion about the validity of information provided
Indicate whether the statement is true or false.
Business