Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Why are gains and losses from asset sales removed from net income when calculating the cash flows from operating activities? a. Selling assets is a

Why are gains and losses from asset sales removed from net income when calculating the cash flows from operating activities?

a.

Selling assets is a noncash item.

b.

Gains and losses from asset sales are a financing activity.

c.

Gains and losses are not removed from net income when calculating the cash flows from operating activities

d.

The entire proceeds from sales of long-lived assets are included in investing activities.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Guide To Hipaa Auditing Practical Tools And Tips To Ensure Compliance

Authors: Margret Amatayakul

1st Edition

1578393582, 978-1578393589

More Books

Students also viewed these Accounting questions

Question

b. Explain how you initially felt about the communication.

Answered: 1 week ago