On its statement of income for a recent year, Air Canada reported a net loss of $249
Question:
On its statement of income for a recent year, Air Canada reported a net loss of $249 million. On its statement of cash flows, it reported $586 million of cash inflows from operating activities.
Explain the difference.
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Items such as depreciation are added back to the net income and so although the net losses were 249 ...View the full answer
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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