Which items are included in the operating activities cash flow calculation?

The inclusion of cash collected from customers in the operating activities cash flow calculation is correct because operating activities encompass transactions that impact a company's core business operations. Cash collected from customers directly reflects revenue generation, representing money received from sales of goods or services, which is central to a company’s ongoing operational efficiency and performance.

This aspect of cash flow is essential, as it helps stakeholders evaluate how well a company can generate cash through its primary business activities, which, in turn, is a critical measure of financial health. Revenue from customers is a key driver of cash flows since it supports operating costs, future investments, and ultimately profitability.

The other items, while relevant to different aspects of a company's cash flow, do not belong to operating activities. Cash paid for dividends pertains to financing activities, as it involves distributing profits to shareholders. Cash paid for capital expenditures relates to investing activities since it involves purchasing long-term assets necessary for business operations. Finally, cash received from loans falls under financing activities as it involves cash inflow resulting from borrowing rather than from operating operations.