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 investing activities section.
C) Both A and B are true.
D) Neither A nor B is true.

Question

Quizplus · Accepted Answer

Public colleges must prepare a reconciliation to reconcile operating income in the Statement of Revenues, Expenses, and Changes in Net Position to the cash flows provided used) by operating activities.

Which of the Following Is True Regarding the Statement of Cash