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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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