Category Assignment

Acts Discreditable Rule: AICPA Guidelines

Acts Discreditable Rule

Which statement best describes the “ Acts Discreditable Rule”? The rule applies to all AICPA members and relates to conduct that diminishes the accounting profession’s reputation. Violation of the rule must be disclosed to all of the member’s future clients and…

Analyzing Ruston Company’s Cash Flows

Net Cash Flow from Operating Activities

Suppose Ruston Company has the following results related to cash flows for 2022: Net Income of $6,700,000Increase in Accounts Payable of $300,000Decrease in Accounts Receivable of $500,000Increase in Inventory of $800,000 Assuming no other cash flow adjustments than those listed…