Multiple Choice
When preparing the statement of cash flows using the indirect method,which statement is INCORRECT?
A) Gains on the sale of long-term assets are subtracted from net income.
B) Losses on the sale of long-term assets are subtracted from net income.
C) Depreciation expense is added to net income.
D) Increases in current liabilities are added to net income.
Correct Answer:
Verified
Correct Answer:
Verified
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