Question

If the Accounts Receivable balance is $10 million less than the balance at the beginning of the year, then on the statement of cash flows (indirect method) $10 million should be ______. Multiple choice question. subtracted from investing activities added to investing activities added to net income subtracted from net income

Answer 1

$10 million should be added to net income.

What is Accounting?

• Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
• A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting.
• They provide a succinct summary of financial transactions across an accounting period. One of the most important aspects of practically every firm is accounting.
• Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people.
• Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.

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