The Indirect Method of Preparing the Statement of Cash Flows

question 54

True/False

The indirect method of preparing the statement of cash flows is recommended by the Financial Accounting Standards Board.

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Definitions:

Toxic Substances Control Act

A legislation passed in the United States in 1976 designed to control the introduction and use of both new and existing chemicals.

Federal Insecticide, Fungicide, and Rodenticide Act

A United States federal law that sets up the basic U.S. system of pesticide regulation to protect applicators, consumers, and the environment.

Mosquito Spray

A substance applied to skin, clothing, or other surfaces to deter mosquitoes and prevent mosquito bites.

Common Law

a body of law derived from judicial decisions of courts and similar tribunals, as opposed to statutes or constitutions.