Purchases Returns and Allowances is the contra-purchases account ...

[lunatika]

Purchases Returns and Allowances is the contra-purchases account to which purchases returns and purchases allowances are credited.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The preparation of the statement of cash flows includes the calculation of all of the following EXCEPT the ________.
 
  A) net cash inflows (or outflows) from financing activities
  B) net cash inflows (or outflows) from free cash flows
  C) net cash inflows (or outflows) from operating activities
  D) net cash inflows (or outflows) from investing activities

[rachel]

Answer to Question 1

True

Answer to Question 2

B

[lunatika]

Thank you

[rachel]

Happy to help you