A Gain on the Sale of a Fixed Asset Is

question 1

Multiple Choice

A gain on the sale of a fixed asset is reported on the statement of cash flows ________.

• A) as a deduction to net income under operating activities for the indirect method
• B) as a deduction to the cash proceeds received from the sale of fixed assets under investing activities
• C) as a noncash transaction
• D) as a cash inflow under financing activities

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Definitions:

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