1. What are the three types of cash flows presented on the statement of cash flows?(5 marks)
2. Explain any differences between partnership and sole proprietorship(10marks)
3. Identify whether each of the following items would appear in the operating, investing, or financing activities section of the statement of cash flows. (5 marks)

1. Cash payments for equipment
2. Cash receipts from sales of goods
3. Cash dividends paid to shareholders
4. Cash payments to employees
5. Cash payments to lenders for interest on loans