Question
On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be a.added to net income
On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be
a.added to net income in converting the net income reported on the income statement to cash flows from operating activities.
b.added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends.
c.deducted from net income in converting the net income reported on the income statement to cash flows from operating activities.
d.deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends.
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Management Accounting Information for creating and managing value
Authors: Kim Langfield Smith, David Smith, Paul Andon, Ronald Hilton, Helen Thorne
8th edition
9781760420413 , 978-1760420406
