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Questions and Answers
Which method can be used to prepare cash flow statements as prescribed by Accounting standard -3?
Which method can be used to prepare cash flow statements as prescribed by Accounting standard -3?
- Indirect method
- Direct method
- Both indirect and direct methods (correct)
- None of the above
Which activities are covered in the preparation of cash flow statements?
Which activities are covered in the preparation of cash flow statements?
- Operating, selling, and purchasing activities
- Operating, investing, and financing activities (correct)
- Operating, selling, and financing activities
- Operating, investing, and purchasing activities
What is the purpose of preparing a cash flow statement?
What is the purpose of preparing a cash flow statement?
- To calculate income tax refunds
- To track the value of business assets
- To determine the profitability of a business
- To analyze the cash inflows and outflows of a business (correct)
Which method is commonly used to prepare cash flow statements?
Which method is commonly used to prepare cash flow statements?
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According to Accounting standard -3, how many methods can be used to prepare cash flow statements?
According to Accounting standard -3, how many methods can be used to prepare cash flow statements?
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