Under the Indirect Method,depreciation,increase in Inventories,and "Non-Operating" Losses Are Added

question 132

True/False

Under the indirect method,depreciation,increase in inventories,and "non-operating" losses are added to net income to arrive at net cash flow from operating activities.

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Definitions:

Tar Sands

Naturally occurring mixtures of sand or clay, water, and an extremely dense and viscous form of petroleum technically referred to as bitumen.

Oil Seep

The seepage of liquid petroleum at the surface.

Tar Pits

Natural deposits where a form of petroleum called bitumen seeps to the surface, creating pools of tar known for preserving ancient biological specimens.

Unconformity

The contact zone between unlike strata groups, marking a historical period of erosive activity or absence of sediment deposition.