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Which loss on sale of machinery in the ordinary course

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Reference no: EM132775142

Problem 1: A loss on the sale of machinery in the ordinary course of business should be presented in a statement of cash flows (using indirect approach for operating activities) as a(n)

A. Outflow of cash

B. Deduction from net income

C. Addition to net income

D. Inflow and outflow of cash

Problem 2: Which is not added to net income under the indirect method of preparing the statement of cash flows?

A. Increase in an accrued liability

B. Loss on sale of patent

C. Amortization of discount on bond payable

D. Increase in deferred tax asset

Reference no: EM132775142

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