The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a(n): (Click the icon to view the items.) The indirect method is used to report cash flows from operating activities. a. Loss on sale of land. More Info Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F-) Non-cash investing and financing activity (NIF) Activity that is not used to prepare the indirect statement of cash flows (N)
The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a(n): (Click the icon to view the items.) The indirect method is used to report cash flows from operating activities. a. Loss on sale of land. More Info Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F-) Non-cash investing and financing activity (NIF) Activity that is not used to prepare the indirect statement of cash flows (N)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What matches with letter A?
Transcribed Image Text:The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a(n):
(Click the icon to view the items.)
The indirect method is used to report cash flows from operating activities.
a.
Loss on sale of land.
More Info
Operating activity-addition to net income (O+) or subtraction from net
income (O-)
Investing activity-cash inflow (I+) or cash outflow (I-)
Financing activity-cash inflow (F+) or cash outflow (F-)
Non-cash investing and financing activity (NIF)
Activity that is not used to prepare the indirect statement of cash flows (N)
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