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Respond to the following questions thoroughly, in 150-300 words for each question. 1.Some might argue that the statement of cash flows is an optional financial

Respond to the following questions thoroughly, in 150-300 words for each question.

1.Some might argue that the statement of cash flows is an optional financial statement and does not provide critical information needed for a firm or investor to succeed. Do you agree with this statement? Why or why not?

2.There are two methods for constructing the statement of cash flows: the direct method and the indirect method. What are the similarities and differences between the two methods? Which of the two is most preferred? Which is required by FASB?

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