Net income is the difference between r ____ es and e ____ es. Cash flow from operating
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Net income is the difference between r ____ es and e ____ es. “Cash flow from operating activities” is the difference between operating cash inflows and operating cash outflows. To find the amount of cash flow from operating activities, we must make two types of adjustments to net income to convert it to a cash basis:
(1) for depreciation and other expenses that will never require an outflow of c __ and (2) for changes in working capital accounts (accounts that are an integral part of daily operating activities).
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