Question: Which method of preparing the operating activities section of a statement of cash flows adjusts net income to remove the effects of deferrals and accruals

Which method of preparing the operating activities section of a statement of cash flows adjusts net income to remove the effects of deferrals and accruals for revenues and expenses?

a.Both the direct and indirect methods

b.The indirect method

c.The direct method

d.Neither the direct method nor the indirect method

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