Question
1. When preparing a statement of cash flows using the indirect method, depreciation expense is added to net income to arrive at net cash flows
1. When preparing a statement of cash flows using the indirect method, depreciation expense is added to net income to arrive at net cash flows from operating activities.
True
False
2. When preparing a statement of cash flows using the indirect method, a gain on sale of land is deducted from net income to arrive at net cash flows from operating activities.
True
False
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Coping With Financial Accounting 1 For Senior Secondary Schools And Undergraduate Studies
Authors: Festus Chukwunwendu Akpotohwo ,Stella Alfred-Jaja Wellington-Igonibo ,Cletus Ogeibiri
1st Edition
3659611034, 978-3659611032
