Which of the Following Is False with Regard to IFRS

question 67

Multiple Choice

Which of the following is false with regard to IFRS and the statement of cash flows?

• A) The IASB is strongly in favor of requiring use of the direct method for operating activities.
• B) In certain circumstances under IFRS, bank overdrafts are considered part of cash and cash equivalents.
• C) IFRS requires that noncash investing and financing activities be excluded from the statement of cash flows.
• D) All of the above statements are false with regard to IFRS and the statement of cash flows.

---

Definitions:

Forecasting

The process of making predictions about future events or trends based on historical data and analysis.

Knowledge, Skills, and Abilities (KSAs)

Refers to the set of competencies required to perform effectively in a job role, including theoretical understanding, practical expertise, and innate capabilities.

Job Families

Groups of occupations based upon work performed, skills, education, training, and credentials.

Legal Issues

Matters involving interpretations of laws and regulations, often requiring legal advice or actions to resolve disputes or comply with legal requirements.