e most common method of developing the Operating Activities section of the SOCF is the: Select one: a. GAAP Method b. Indirect Method c. Direct Method X The Investing Section of the SOCF reports Select one: a. The Investing Section of the SOCF reports b. cash contributions by investors c. any changes to Long-Term assets due to depreciation, purchases, disposal, etc. The Indirect Method is a: Select one: a. reconciliation of accrual income to cash income. b. a rebuilding of the income statement based on cash transactions only. c. the most difficult method and is approved by GAAP. The Operating Activities section begins with: Select one: a. Gross Profit b. Beginning Cash Balance c. Net Income Step 2 in preparing the Operating Activities section involves: Select one: a. subtracting gains from investing activities. b. adding losses from investing activities. c. a &b Step 3 in preparing the Operating Activities section involves: Select one: a. changes in current assets and current liabilities. b. changes in Long-term assets and Long-term liabilities. C. changes in current assets only