Quiz 24: The Statement of Cash Flows
Decreases in Current Assets Must Be Deducted from Net Income
Decreases in current assets must be deducted from net income to arrive at cash flows from operations.
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If the income statement reflects a net loss for the year,the loss is not reported under cash flows from operating activities in the statement of cash flows.
The resale of treasury stock is classified as a cash inflow from financing activities.
Interest expense is treated as an outflow of cash from a financing activity.
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