Which of the following statements regarding the direct method for the statement of cash flows...
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Accounting
Which of the following statements regarding the direct method for the statement of cash flows is inaccurate?
Multiple Choice
-When the statement of cash flows is based on the direct method, it must be accompanied by a reconciliation of net income to the net cash provided by operating activities.
-Most corporations use the direct method to prepare the statement of cash flows.
-The cash flows from investing activities and the cash flows from financing activities are the same under the direct and indirect methods
-The financial accounting standards board allows for the use of the direct method to prepare the statement of cash flows.
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