Which Statement Is Not True? Current GAAP

question 2

Multiple Choice

Which statement is not true? Current GAAP

• A)requires that the cash flows from extraordinary items be reported as investing or financing activities and not be included in net cash flow from operating activities
• B)states that cash flow per share must not be reported in a company's financial statements
• C)states that under the indirect method, a company must report its operating cash inflows separately from its operating cash outflows
• D)requires that the cash inflows and cash outflows for related investing activities as well as related financing activities be shown separately and not netted against each other

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Definitions:

Globalization

The process of increased interconnectedness and interdependence of the world's markets and businesses.

American Culture

A complex blend of customs, traditions, beliefs, and values that characterize the social behavior and societal norms in the United States.

The Internet

A global network of interconnected computers and servers that enables the sharing of information and communication across the world.

Washington Consensus

represents a set of neoliberal economic policies that emphasize fiscal discipline, deregulation, trade liberalization, and privatization.