Question: Differentiate between the direct and indirect method by discussing each one. What are some of the advantages and disadvantages of each method? Are their industry

Differentiate between the direct and indirect method by discussing each one. What are some of the advantages and disadvantages of each method? Are their industry specific companies that prefer either method? What are some of the arguments in favor of using the indirect method as opposed to using the direct method for reporting a statement of cash flows? Why is it desirable to use a worksheet when preparing the statement of cash flows?

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