Gannon Corporation uses the indirect method to prepare its statement of cash flows. Following this approach, a gain on sale of equipment was deducted from net income in computing net cash flow from operating activities
The most likely reason for this adjustment is that:
A. The sale of equipment did not result in the receipt of any cash by Gannon Corporation.
B. The sale resulted in a cash receipt in an accounting period different from the period in which the gain was recognized.
C. The amount of the gain recognized was not equal to the cash received.
D. This type of transaction is not classified as an operating activity.
D
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Rank from lowest to highest, the amount of monthly income that would result from the following annuity settlement options:
A. Life with refund option, life with 10 years certain, straight life B. Straight life, life with ten years certain, life refund option C. Life with ten year certain, life with refund option, straight life D. Life with refund option, straight life, life with 10 years certain
A sourcing strategy in which two suppliers are used for the same purchased product or service is:
A) cross sourcing. B) dual sourcing. C) contingency sourcing. D) multisourcing.