True or False

1. FOB Destination Point means that title to goods being shipped passes to the seller when the goods arrive at the shipping destination.

2. If a company's sales on account are greater than its accounts receivable collections for the year, then a negative adjustment should be made to net income in the Operating Activities section of the Statement of Cash Flows if the Indirect Method is used.

3. Amortization and depreciation expenses should be added back to net income in the Financing Activities section of the Statement of Cash Flows under the indirect method.