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Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A loss on sale of $1,000 was recorded. How is the Cash Flows from Operating
Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A loss on sale of $1,000 was recorded. How is the Cash Flows from Operating Activities affected?
| The loss of $1,000 is added to Net Income. |
| The loss of $6,000 is added to Net Income. |
| The gain of $6,000 is deducted from Net Income. |
| The loss of $1,000 is deducted from Net Income. |
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Essentials Of Internal Auditing CIA Part 1 2021
Authors: Muhammad Zain
1st Edition
B09B36MRH2, 979-8542949130
