Which statement about the statement of cash flows is FALSE?
A) The statement of cash flows is based on information from several financial statements.
B) The statement of cash flows is based on information from a company's income statement only.
C) The change in the Cash account on the comparative balance sheets is the check figure for the statement of cash flows.
D) The indirect method of preparing the statement of cash flows is used by the vast majority of companies in the United States.
Correct Answer:
Verified
Q77: Using the indirect method,the operating section of
Q78: Using the indirect method to calculate net
Q79: When converting net income to net cash
Q80: Which of the following transactions does NOT
Q81: On a statement of cash flows prepared
Q83: On January 1,2019,plant assets,net are $190,000 and
Q84: In 2019,Forever Young,Inc.sold land for $130,000 cash,purchased
Q85: During the year,Lady Liberty Corporation's Treasury Stock
Q86: On January 1,2019,the Bonds Payable account has
Q87: On the statement of cash flows prepared
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents