1. For the following transaction indicate where if at all it would be classified

1. For the following transaction indicate where if at all
it would be classified on the statement of cash flows. Assume the indirect
method is used. Decrease in income taxes payable. (Points: 4) Operating
activities sectionInvesting activities sectionFinancing activities sectionDoes not represent a cash flow2. For the following transaction indicate where if at all
it would be classified on the statement of cash flows. Assume the indirect
method is used. Purchased land for cash. (Points: 4)Operating activities sectionInvesting activities sectionFinancing activities sectionDoes not represent a cash flow3. Starting with net income and adjusting it for items that
affected reported net income but which did not affect cash is called the
(Points: 4)Direct method.Indirect method.Working capital method.Cost-benefit method.