On its income statement for a recent year, Continental Airlines, Inc. reported a net loss of $68

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On its income statement for a recent year, Continental Airlines, Inc. reported a net loss of $68 million from operations. On its statement of cash flows, it reported $457 million of cash flows from operating activities.

Explain this apparent contradiction between the loss and the positive cash flows.

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Oct 14, 2011 06:16 AM

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On its income statement for a recent year, Continental Airlines, Inc. reported a net loss of $68

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