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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Which of the following is an example of a cash inflow from an operating activity?

a. Collection of cash relating to a note receivable

b. Sale of property, plant, and equipment

c. Collection of an account receivable from a credit sale

d. None of these

To determine

Introduction:

A cash flow statement normally breaks out an organization’s cash sources and uses for the period into three classifications: cash flow from operating activities, cash flow from investing activities, and cash flow from financing exercises.

To choose:

Which of the following is an example of a cash inflow form an operating activity?

Explanation

Explanation for correct answers:

Option (c) collection of an account forma a credit sale, is the normal transaction of the business because company sold some goods on credit basic so money will be recover in future then it’s a part of the normal operating activity.

Explanation for incorrect answers:

Option (a) Collection of cash relating to a note receivable, this activity related...

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