Which of the following assertions about cash flow statements is / are correct ?
1. A cash flow statement prepared using direct method produces a different figure for operating cash flow from that produced through indirect method.
2. Rights issue of shares do not feature in cash flow statements.
3. A surplus on revaluation of a fixed asset will not appear as an item in a cash flow statement.
4. A profit on the sale of a fixed asset will appear as an item under cash flow from Investing Activities in a cash flow statement.
A. 1 and 4
B. 2 and 3
C. 3 only