please answer the following 2 questions: 1. If there is any Depreciation, Amortization, or Depletion expense it should be ... a) added to the net income because they are cash activities b) deducted from the net income because they are cash activities c) added to the net income because they are non-cash activities d) deducted from the net income because they are non-cash activities 2. Any Gain in the income statement should be: a) deducted from the net income because they are non-cash activities b) added to the net income because they are cash activities c) deducted from the net income because they are cash activities d) added to the net income because they are non-cash activities
please answer the following 2 questions:
1. If there is any
a) added to the net income because they are cash activities
b) deducted from the net income because they are cash activities
c) added to the net income because they are non-cash activities
d) deducted from the net income because they are non-cash activities
2. Any Gain in the income statement should be:
a) deducted from the net income because they are non-cash activities
b) added to the net income because they are cash activities
c) deducted from the net income because they are cash activities
d) added to the net income because they are non-cash activities
The cash flow statement is prepared to record the cash flow from various activities during the period. The various activities for the cash flow statement are classified as operating, investing and financing activities. the operating activities include the cash from day-to-day activities of the business. Using indirect method, the net income is adjusted for non cash items and then changes in current assets and current liabilities are adjusted to get the net cash flow from operating activities.
Step by step
Solved in 2 steps
