One Area of Difference Between GAAP and IFRS Cash Flow

question 79

Multiple Choice

One area of difference between GAAP and IFRS cash flow reporting is the

• A) treatment of losses on sale of equipment.
• B) general categories required for various types of cash flows.
• C) use of the direct or indirect method of reporting operating cash flows.
• D) allowed classifications of dividends and interest paid or received.

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Definitions:

Outgroup Homogeneity

The tendency to view members of an outgroup as more similar to each other than members of one's in-group, often leading to stereotypical perceptions.

Ingroup Bias

The tendency for people to give preferential treatment and display more positive attitudes towards individuals who are members of their own group.

Outgroup Homogeneity

The perception that members of an outgroup are more similar to each other than they actually are, particularly when compared to the diversity observed within one's ingroup.

Just-world Phenomenon

The cognitive bias to believe that the world is inherently fair and that people get what they deserve.