Multiple Choice
For each transaction provided in items , select the proper section of the statement of cash flows in which it should be reported using the indirect method from the reporting categories provided in a through h below.If the item is not required to be reported on the statement of cash flows, place an 'X' in the space provided.
-Cash paid for income taxes
A) Cash flows from operating activities-will be added to net income
B) Cash flows from operating activities-will be subtracted from net income
C) Cash flows from investing activities-increase as a result of cash inflows
D) Cash flows from investing activities-decrease as a result of cash outflows
E) Cash flows from financing activities-increase as a result of cash inflows
F) Cash flows from financing activities-decrease as a result of cash outflows
G) Disclosed as a non-cash transaction in the notes
H) Appears in operating activities only under the direct method
Correct Answer:

Verified
Correct Answer:
Verified
Q8: Given below are several items that will
Q9: For each item listed in, place the
Q10: For each item numbered below, select the
Q11: Profiles Corp.had the following infrequent income statement
Q12: For each item numbered below, identify the
Q14: Before adjusting entries, Kelvin's accounts receivable and
Q15: For each transaction provided in items ,
Q16: Nakita Inc.reported beginning inventory of $90,000, ending
Q17: For each item listed in, place the
Q18: For each item numbered below, select the