Question 12 2 pts Which of the following statements regarding a statement of cash flows is false? The most common method used by most companies for reporting operating activities is the direct method Operating activities include all transactions and other events related to the earnings process It requires a reconciliation of beginning and ending cash balances O It helps users assess a company's need for external financing Question 13 2 pts Which of the following would NOT be a major income classification item found in a multi-step income statement? Income from continuing operations Results from discontinued operations Prior period adjustments Gross margin