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Question - GAAP requires the statement of cash flows to be presented when financial statements are prepared.
Answer the following questions in the Discussion Board:
Explain the purposes of the statement of cash flows.
List and describe the three categories of activities that must be reported in the statement of cash flows.
Identify and describe the two methods that are allowed for reporting cash flows from operations.
Describe the financial statement presentation of noncash investing and financing transactions. Include in your description an example of a noncash investing and financing transaction.
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2017). Financial accounting and accounting standards. Intermediate accounting (17th ed.). John Wiley & Sons, Inc.
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The constraint at Bulman Corp. is time on a particular machine. The company makes three products that use the machine. Data appears below:
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