Corola Corporation reported $34,000 of net income and $25,000 of net cash flow from operating activities All

Question:

Corola Corporation reported $34,000 of net income and $25,000 of net cash flow from operating activities All revenue is earned on account.

Required
Write a brief memo that explains how earning revenue on account could have caused the difference between net income and cash flow.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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