Post Utme Ims U 2017 Accounting Question 23

Practice objective / multiple choice question 23 from the 2017 Post Utme Ims U Accounting examination.

Post Utme Ims U 2017 Accounting Objective / Multiple Choice
Question 23 POST_UTME_IMS_U • 2017 • ACCOUNTING • objective

A company's financial statements show a net income of ₦500,000. The company's accountant wants to prepare a cash flow statement. What is the first step the accountant should take?

Answer Options

A. Prepare a statement of cash flows using the indirect method
Correct Answer B. Prepare a statement of cash flows using the direct method
C. Prepare a statement of changes in equity
D. Prepare a balance sheet
Correct Answer
B
Correct Option:
Prepare a statement of cash flows using the direct method

About This Question

This is Post Utme Ims U 2017 Accounting Question 23. It is one of the objective questions from the 2017 Post Utme Ims U Accounting examination.

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