Which of the Following Is True Regarding the Statement of Cash

question 64

Multiple Choice

Which of the following is true regarding the statement of cash flows and IFRS?

• A) Cash and cash equivalents are defined differently under IFRS than under U.S. GAAP.
• B) Companies preparing a complete set of financial statements under IFRS may exclude the statement of cash flows if the cash flow activity is reported in the notes to the financial statements.
• C) Under IFRS most companies choose to use the direct method of reporting cash flows from operating activities.
• D) Under IFRS noncash investing and financing activities are excluded from the statement of cash flows and instead are presented in the notes to the financial statements.

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Definitions:

Aortic Stenosis

A condition characterized by the narrowing of the aortic valve opening, restricting blood flow from the heart to the rest of the body.

Intercostal Spaces

The anatomical regions between the ribs that contain muscles and neurovascular bundles.

Diastasis Recti

A medical condition characterized by the separation of the abdominal muscles, commonly seen in pregnant or postpartum women.

Rectus Abdominis

A large muscle in the front of the abdomen that assists in regular breathing movements, maintains posture, and supports the spine.