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Which would be added to net income

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Reference no: EM132953442

Problem 1: If the statement of cash flows is prepared using the indirect method, which of the following is deducted from net income to arrive at cash provided by operating activities?

A) depreciation expense
B) decreased accounts receivable
C) increased wages payable
D) the gain on sale of equipment

Problem 2: Which of the following would be added to net income when using the indirect approach to prepare the cash from operating activities of the Statement of Cash Flows?

A) increase in inventory
B) gain on sale of investments
C) decrease in wages payable
D) decrease in accounts receivable

Problem 3: When the bad debt estimate is based on the assumption that the amount of bad debt is a function of the total sales made on credit, this method is known as

A) the direct write-off method.
B) the percentage receivables method.
C) the percentage of credit sales method.
D) aging of accounts receivable method.

Reference no: EM132953442

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