When preparing a statement of cash flows using the indirect method,a gain on sale of land is deducted from net income to arrive at net cash flows from operating activities.
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Q22: A decrease in plant assets shown in
Q23: Dividends declared but unpaid are reflected in
Q24: A decrease in the balance of merchandise
Q25: When presenting decreases in long-term investments in
Q26: Since investing activities center on the long-term
Q28: Payment of dividends would be reflected as
Q29: Determining net cash flows from operating activities
Q30: When preparing a statement of cash flows
Q31: When preparing a statement of cash flows
Q32: Cash inflows and outflows are not netted
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