1. Investing Cash Flows? affect:
A. longminus−term asset accounts.
B. equity accounts.
C. current assets and current liabilities.
D. longminus−term liability accounts.
2. Even though? depreciation, depletion and amortization are? expenses, they are considered nonminus−cash transactions and must be subtracted from net income in the operating activities section of an indirect method cash flow statement.
True False
3. Under the direct? method, the only section that differs from the indirect method is the financing activities section.
True/ False