Assume that the Quinn Corporation uses the indirect method to depict cash flows. Indicate where, if at all, income taxes paid would be classified on the statement of cash flows.
A) Operating activities section.
B) Investing activities section.
C) Financing activities section.
D) Does not represent a cash flow.

Question

Quizplus · Accepted Answer

Income taxes paid are classified under the operating activities section in the statement of cash flows when using the indirect method.

Assume That the Quinn Corporation Uses the Indirect Method to Depict