The Accounting Standard Dealing with the Statement of Cash Flows

question 52

Multiple Choice

The accounting standard dealing with the statement of cash flows is:

• A) IAS 7/AASB 107.
• B) IAS 1/AASB 1001.
• C) IAS/19/AASB 1019.
• D) IAS 18/AASB 118.

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Definitions:

Best Price

The most favorable financial term offered on a product or service, often considered the lowest price offered among competitors.

Physical Store

A brick-and-mortar location where businesses sell their products or services directly to customers in person.

Near Field Communications

A set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smartphone, to establish communication by bringing them within a short distance of each other.

Showrooming

The practice of visiting a store or showroom to examine a product before buying it online at a lower price.