6) Which financial statement is the last to be prepared? B) C) statement of cash flows D) balance sheet 7) Another name for channel stuffing is A) trade stuffing B) trade loading D) trade disclosure 8) Which of the following is classified as an operating activity on a statement of cash flows? A) payment of dividends B) sale of equipment D) purchase of inventory 9) On the income statement is gross profit less all operating A) retained earnings B) net income C) income from continuing operations D) operating income 10) Under IFRS, the impairment loss on a significant asset is the difference between the carrying value of the asset and A) the recoverable amount of the asset 3) the fair value of the asset ) the value in use of the asset ) the lesser of the fair value of the asset and its value in use 3I Page