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QUESTION 3 (i) An entity may report an accounting loss and still report a positive net cash flow from its operating activities. Explain how this

QUESTION 3

(i) An entity may report an accounting loss and still report a positive net cash flow from its operating activities. Explain how this could happen. Assume the direct method was used to determine the CFOA. [150 limit answer]

(ii) NZ IAS 7 Statement of Cash Flows allows an entity to choose how to report cash flows from operating activities. Do you consider one method to be more useful than the other? Why? [150 limit answer]

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