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1 Which of the following statements are true regarding the direct and indirect methods for calculating operating cash flows on the statement of cash flows? The Indirect method is more informative because it better describes the sources and uses of cash from normal open The indirect method is more commonly used in practice III The direct method is the FASB's preferred approach IV The indirect method starts with net income and adds or subtracts various adjustments to reach cash from investing v Operating activities include transactions associated with the purchase or sale of stocks and bonds Select one: a. I, III, IV b. II, III C. II, III, V d