Payment of interest on a note payable is a cash flow from a financing activity.

A. True

B. False

Collection of principal on a note receivable is a cash flow from financing activity

A. True

B. Falls

The difference between the indirect and direct method of cash flow determination

only affects the determination of investing activities cash flow

A. True

B. False

Cash collected from customers is a cash flow from operating activities which is calculated using the indirect method in preparing the statement of cash flows

A. True

B. False