Security authentication prevents parties from denying actions they have taken

Which of the following is INCORRECT about the Statement of Cash Flows?

(a) The direct method may be used to report cash provided by operating activities (b) The statement shows the cash provided (used) for three categories of activity (c) The operating section is the last section of the statement (d) The indirect method may be used to report cash provided by operating activities

Explain how it can be possible for a portfolio manager to outperform a benchmark but still fail to meet the investment objective of a client

What will be an ideal response?