T/F Questions (0.5/each, total: 4 points) 1. The primary purpose of the statement of cash flows is to provide information about a company's cash receipts and cash payments during an accounting period. 2. Noncash investing and financing transactions, such as the exchange of a long-term asset for a long-term liability, represent significant investing and financing activities and are reflected in a separate schedule as part of the statement of cash flows. 3. Under the indirect method, gains or losses from the sale of equipment used in operations would appear as adjustments in the cash flows from operating activities section of the statement of cash flows. 4. When preparing a statement of cash flows using the indirect method, amortization expense is added to net income in the cash flows from operating activities section of the statement of cash flows