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Impact of Transactions Involving Contingent Liabilities on Statement of Cash Flows

From the following list, identify whether the change in the account balance during the year would be reported as an operating (O), an investing (I), or a financing (F) activity or not sepa- rately reported on the statement of cash flows (N). Assume that the indirect method is used to determine the cash flows from operating activities.

Estimated liability for warranties
Estimated liability for product premiums
Estimated liability for probable loss relating to litigation

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91623962

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