Under ASPE all of the following might appear as adjustments to net income on an indirect method statement of cash flows except: A) payment of dividends B) depreciation expense C) an increase in Accounts Receivable D) gain on sale of capital assets

Question

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Payment of dividends is not an adjustment to net income on an indirect method statement of cash flows under ASPE (Accounting Standards for Private Enterprises) because it is considered a financing activity, not an operating activity. Adjustments to net income typically involve non-cash items and changes in working capital items related to operating activities.

Under ASPE All of the Following Might Appear as Adjustments