(CMA Dec 95 #3) Refer to the Alsup Company example. Alsup Company uses the indirect method to prepare its Year 4 statement of cash flows, and would show a(n)
a. source or inflow of funds of $5,000 from the sale of the truck in the financing section.
b. deduction of $15,000 in the Operating Section, representing the decrease in year-end accounts receivable.
c. source or inflow of funds of $7,000 from the sale of the truck in the financing section.
d. addition of $2,000 in the Operating Section for the $2,000 loss on the sale of the truck.
e. deduction of $2,000 in the Operating Section for the $2,000 loss on the sale of the truck.
D
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)
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