w seconds Question Completion Status: QUESTION 7 Entity A prepares its Statement of Cash Flows in accordance with US GAAP using the indirect method indicate the reporting of the flowing section event by the major categories on the statement Entity A purchased a new computer system in a cash transaction Cash Flows From Operating Activities-Add to Net Income Cash Flows From Operating Activities-Deduct from Not Income Cash Flows From Investing Activities Cash Flows From Financing Activities Non-cash QUESTION B Entity A prepares is Statement of Cash Flows in accordance with US GAAP usng the indirect method indicate the morning of the following transaction or ovent by the major categories on the statement Prepaid insurance decreased during the year. Cash Flows From Operating Activites-Add to Net Income Cash Flows From Operating Activities-Deduct from Net Income Cash Flows From Investing Activities Cash Flows From Financing Activities Non-cash