The only difference between the direct and indirect methods used for the preparation of the statement of cash flows is the way cash from operating activities is calculated

Which of the following assets must be reported at the lower-of-cost-or-market value?

A) Accounts Receivable B) Merchandise Inventory C) Prepaid Insurance D) Notes Receivable

A broker cannot:

a. remain silent when a material fact is only known to him b. keep a trust account for earnest money deposits c. keep $200 of his own money in his trust account d. give funds to the buyer or seller, if disclosed to both.