In the "On the Horizon" Feature in the Text, Which

question 45

Multiple Choice

In the "On the Horizon" feature in the text, which of the following is discussed regarding convergence of U.S. GAAP with IFRS?

• A) Noncash investing and financing activities will be disclosed only in the notes.
• B) Bank overdrafts will be classified as part of financing activities.
• C) The statement of cash flows will present only changes in cash and will exclude changes in cash equivalents.
• D) All of the above are in "On the Horizon" regarding converging U.S. GAAP and IFRS.

---

Definitions:

Legal Immigrants

Individuals who have been granted lawful permission by a country to live, work, or study there.

Annual Growth

The increase in value or size of something over a one-year period, usually expressed as a percentage.

Labor Force

The total number of people employed and unemployed, who are actively seeking employment.