Question: Consider the following statement: It is irrelevant to consider the effects of consolidation on the statement of cash flows for three reasons: 1. The consolidated

Consider the following statement: It is irrelevant to consider the effects of consolidation on the statement of cash flows for three reasons:

1. The consolidated balance sheet already accounts for cash consolidations.

2. Consolidating procedures wash out the effect of cash on consolidating transactions anyway.

3. Investors don

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