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Identify the four possible reporting methods for comprehensive income (in theory). Explain the pros and cons of each method. Describe how are the following calculated
- Identify the four possible reporting methods for comprehensive income (in theory).
- Explain the pros and cons of each method.
Describe how are the following calculated when preparing the cash flow statement using the direct method:
- Cash collected from customers,
- Cash paid for merchandise,
- Cash paid to employees and cash paid for other accrued expenses, and
- Cash paid for other operating costs including insurance and other prepaid expenses.
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