The gain on sale of equipment is deducted from net income to arrive at operating cash flows
Question:
The gain on sale of equipment is deducted from net income to arrive at operating cash flows because
a. the sale of long-term assets is a non-operating activity.
b. the gain does not reveal the total cash received.
c. all of the cash received from the sale is reported in the investing section.
d. all of the above.
e. none of the above.
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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