Regarding the Use of a Spreadsheet for the Preparation of the Statement

question 156

Multiple Choice

Regarding the use of a spreadsheet for the preparation of the statement of cash flows,which of the following statements is incorrect?

• A) The spreadsheet starts with the beginning balance sheet and concludes with the ending balance sheet.
• B) When companies face complex situations, a spreadsheet can help in preparing the statement of cash flows.
• C) The spreadsheet cannot be used for the direct method.
• D) Accountants can prepare the statement of cash flows directly from the lower part of the spreadsheet.

---

Definitions:

1790 Naturalization Act

The first law in the United States to establish a national framework for the naturalization of foreign citizens, which limited this process to "free white persons."

Open Immigration

American immigration laws under which nearly all white people could immigrate to the United States and become naturalized citizens.

Thomas Jefferson

A Founding Father of America, the main writer of the Declaration of Independence in 1776, and served as the third President of the United States from 1801 to 1809.

Indians

A term historically used to refer to Native American peoples but is considered outdated and incorrect.