When preparing a the operating section of the statement of cash flows using the indirect method, which of the following items are subtracted from net income?

A) depreciation expense
B) gain on sale of long-term assets
C) decrease in prepaid expenses
D) increase in income taxes payable

Answer: B

Business

You might also like to view...

The idea that the needs of workers should be subordinate to the needs of the organization is fundamental to the organization ethic.

a. true b. false

Business

Which of the following statements regarding exclusive agents is NOT true?

A) Exclusive agents represent only 1 company. B) Exclusive agents are usually compensated by commissions. C) Exclusive agents represent the insurer. D) Exclusive agents represent the insured."

Business