To convert cost of goods sold to cash paid to suppliers for inventory purchases, we during the year. multiple choice 3 add the increase in inventory and subtract the increase in accounts payable add the increase in inventory and add the increase in accounts payable subtract the increase in inventory and add the increase in accounts payable subtract the increase in inventory and subtract the increase in accounts payable Knowledge Check 04 To convert selling and administrative expense to cash paid for insurance, to utility providers, etc., depreciation is . multiple choice 4 added ignored subtracted

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone