Multiple Choice
Which statement is TRUE regarding the direct method of preparing the statement of cash flows?
A) Depreciation is a cash payment under operating activities.
B) Sales on credit is listed under cash receipts in the operating section.
C) Collections from customers are the cash receipts listed in the operating section.
D) Proceeds from the issuance of long-term debt is listed as a cash receipt in the operating section.
Correct Answer:
Verified
Correct Answer:
Verified
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