Differences between cash flow and net income
What are the salient differences between Cash Flow and Net Income?
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Mitchell's Softball Gloves Company estimated the following at the beginning of the year: Assembly Department Testing Department Total Overhead $570,000 $130,000 $700,000 Direct Labor Hours 142,500 32,500 175,000 Machine Hours 32,000 65,000 97,000
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A study has indicated that some of the tours are not profitable, and consideration is being given to dropping these tours to improve the company's overall operating performance.
Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.
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