Under which type of activity will you classify Refund of Income Tax received while
preparing the Cash Flow Statement?
Dear Student,
Refund of Income Tax is related with the Tax paid and Tax paid/Provision for Tax are shown in the Operating Activities, thus Refund of Income Tax is also a part of operating activity.
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Refund of Income Tax is related with the Tax paid and Tax paid/Provision for Tax are shown in the Operating Activities, thus Refund of Income Tax is also a part of operating activity.
Keep posting!!