Question
Question 20 (5 points) Which of the following statements regarding use of the direct and indirect methods of determining cash flows from operating activities
Question 20 (5 points) Which of the following statements regarding use of the direct and indirect methods of determining cash flows from operating activities is incorrect? The majority of U.S. companies use the indirect method. The direct method calculates cash collected from customers. The indirect method starts with net income. GAAP requires the use of indirect method for SEC clients. All solutions are correct.
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
15th edition
978-0133428858, 133428850, 133428702, 978-0133428704
