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1. What is meant by cash-basis accounting?
Revenue is recognized when products are delivered or services are provided.
Revenue is not recognized as payments are made in cash and not recorded.
Cash Receipts are recognized when products or services are paid for.
2. Where should Interest Paid sit in the Cash Flow Statement?
Investing cash flows
Operating cash flows
Financing cash flows
3. Which of the following items are added back from the Income Statement NPAT when calculating indirect cash flow?
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