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1. When preparing a statement of cash flows using the indirect method, depreciation expense is...

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Question

Accounting

1. When preparing a statement of cash flows using the indirect method, depreciation expense is added to net income to arrive at net cash flows from operating activities.

True

False

2. 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.

True

False

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