单选题 Which of the following statements about accounting procedures and their impact on the statement of cash flows is least valid? All else equal: A. a nonprofitable company that uses LIFO to account for inventory will have higher total cash flow than a nonprofitable company that uses FIFO during a period of rising prices. B. a company that finances through common stock issues may have the same cash flow from financing(CFF) as a firm that issues debt. C. the cash flow from operations(CFO) for a company that has a capital lease will be overstated compared to that of a firm that has an operating lease.

【正确答案】 A

【答案解析】Because of the impact of income taxes, a profitable company that accounts for inventory using LIFO will have higher total cash flow than a profitable company that uses FIFO. The company that uses LIFO will have higher cost of goods sold, resulting in lower net income and thus lower taxes.