Question: Hill uses the indirect method to prepare its statement of cash-flows. It collected tuition from students on Jan 1 and properly recorded it. However, the

Hill uses the indirect method to prepare its statement of cash-flows. It collected tuition from students on Jan 1 and properly recorded it. However, the accountant forgot to book the adjusting entry at the end of the period.

Characterize the following statement: "This oversight will affect the reported amount of operating cash-flows because the fact we did not decrease a liability will affect the working capital adjustments in our statement of cash-flows."

A)The statement is always true.

B)No answer text provided.

C)The statement is sometime true.

D)The statement is never true.

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