If the indirect method of preparing the statement of cash flows is used, a note disclosing the amount of interest and income taxes paid during the period must accompany the statement.

Question

Quizplus · Accepted Answer

The indirect method of preparing the statement of cash flows requires a note disclosing the amount of interest and income taxes paid during the period, in order to reconcile net income to net cash provided by operating activities.

If the Indirect Method of Preparing the Statement of Cash