Question: 1) When using the indirect method to prepare the operating section of a statement of cash flows, a gain on the sale of equipment and

1) When using the indirect method to prepare the operating section of a statement of cash flows, a gain on the sale of equipment and the amortization of bond discount would both be added back as an adjustment to net income. (answer True or False)

2) Interest collected and principal collected on a note receivable are examples of an investing activity. (answer True or False)

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