Question 30 of 30Which of the following statements are true?
Cash paid to acquire treasury stock should be shown on thestatement of cash flows under investing activities.On the statement of cash flows, investing activities wouldinclude any receipts from the sale of land.In order to determine cash flows from operations, a companymust essentially convert its income statement from an accrual basisto the cash basis of accounting.If cash dividends of $135,000 were paid during the year andthe company sold 1,000 shares of common stock at $30 per share, thestatement of cash flows would report net cash flow from financingactivities as $165,000.All of these statements are true.Under the indirect method, expenses that do not affect cashare added to net income in the operating activities section of thestatement of cash flows.
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