Multiple Choice
Which of the following is true regarding the Statement of Cash Flows for a public college?
A) A reconciliation is required, reconciling operating income in the Statement of Revenues, Expenses, and Changes in Net Position to the cash flows provided (used) by operating activities.
B) Cash purchases of capital assets are reported as outflows in the capital related financing activities section.
C) Both A and B are true.
D) Neither A nor B is true.
Correct Answer:
Verified
Correct Answer:
Verified
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