Which of the following describes the operating activities section of the statement of cash flows? It reports on activities that create revenues or expenses for the entity's business. It reports on how cash flows affect the total assets and total liabilities. It includes cash inflows and outflows related to long-term liabilities and equity. O It reports cash receipts and cash payments that increase or decrease long-term assets.
Which of the following describes the operating activities section of the statement of cash flows? It reports on activities that create revenues or expenses for the entity's business. It reports on how cash flows affect the total assets and total liabilities. It includes cash inflows and outflows related to long-term liabilities and equity. O It reports cash receipts and cash payments that increase or decrease long-term assets.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.19MCE
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Transcribed Image Text:Which of the following describes the operating activities section of the statement of cash flows?
O It reports on activities that create revenues or expenses for the entity's business.
It reports on how cash flows affect the total assets and total liabilities.
It includes cash inflows and outflows related to long-term liabilities and equity.
It reports cash receipts and cash payments that increase or decrease long-term assets.
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