Question: 8. The indirect method, as opposed to the direct method, can be used to prepare which section(s) of the Statement of Cash Flows? A. Only

 8. The "indirect method", as opposed to the "direct method", can

8. The "indirect method", as opposed to the "direct method", can be used to prepare which section(s) of the Statement of Cash Flows? A. Only the investing activity section B. Only the financing activity section C. Only the operating activity section D. The investing, financing, and operating activity sections 9. Lambert Inc. purchased a building by issuing a note payable for the full cost of the building. The proper classification for this transaction for statement of cash flow purposes is as: A. A financing activity B. An investing activity C. An operating activity D. Both a financing and investing activity E. A non-cash activity

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