Final answer:
Depreciation is the noncash item that would be added back to net income to convert it to cash flow from operating activities, reflecting its status as a noncash expense but not an actual cash outflow.
Step-by-step explanation:
The item that is a noncash item which would be added to net income to convert it to cash flow from operating activities is depreciation. Depreciation is an accounting expense that represents the loss of value of an asset over time. While it reduces net income on the income statement, it is not an actual cash outflow and must be added back to net income in the cash flow statement. Therefore, it is considered a noncash expense and is added back to the net income in the operating activities section of the cash flow statement to reflect the actual cash flow.