Question
During the fiscal year that just ended, a company collected $75,000 in principal on loans that it had made to other firms, as well as
During the fiscal year that just ended, a company collected $75,000 in principal on loans that it had made to other firms, as well as $12,000 in interest on those loans. When compiling its statement of cash flows, the company would classify
the principal received as a cash inflow related to operating activities, and the interest received as a cash inflow related to investing activities.
the principal received as a cash inflow related to investing activities and the interest received as a cash inflow related to operating activities.
both the principal received, and the interest received as cash inflows related to operating activities.
both the principal received, and the interest received as cash inflows related to investing activities.
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Auditing a business risk appraoch
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
6th Edition
9780324645095, 324645090, 978-0324375589
