Question: Determining net income from net cash flows from operating activities statement of cash flows, using the indirect method: a. Determine the net income reported by

Determining net income from net cash flows from operating activities statement

Determining net income from net cash flows from operating activities statement of cash flows, using the indirect method: a. Determine the net income reported by Curwen Inc. for the year ended December 31 . $ b. Curwen's net income is different than net cash flows from operating activities. Which of the following could possibly be the reason for such difference? a. Because depreciation expense which has no effect on cash flows from operating activities. b. Changes in current operating assets and liabilities that are added or deducted. c. Changes in fixed assets and liabilities that are added or deducted. d. Gain from sales of investment is included in net income while the sales proceeds are added in operating activities of cash flow statements

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