The two approaches to presenting cash flows provided by operating activities in the statement of cash flows are the internal approach and the external approach. True or False

The operating activities shown on the statement of cash flows reflect items on the income statement, and thus the amounts will be identical to those on the accrual basis income statement.

True or False

The statement of cash flows explains the change in the Cash account balance between the beginning of the period and showing how cash was generated and spent. True or False

The statement of cash flows is organized into three sections: operating activities, investing activities, and financing activities. True or False

One would expect a companys primary source of cash is from borrowing and investor contributions. True or False

Activities that involve external funding are called financing activities. True or False