Which of the Following Statements Concerning IFRS and the Statement

question 97

Multiple Choice

Which of the following statements concerning IFRS and the statement of cash flows is correct?

• A)When large foreign companies that follow IFRS prepare the statement of cash flows they overwhelmingly use the direct method to prepare the cash flow from operating activities section.
• B)IFRS permits companies to classify interest paid,interest received,and dividends received as part of either investing or operating activities.
• C)IFRS rules permit firms that use bank overdrafts repayable on demand as part of their normal cash management activities to include those amounts as a component of cash and cash equivalents.
• D)IFRS rules require firms that use the direct method to also provide a reconciliation of net income to cash flows from operating activities (essentially the indirect method).

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Definitions:

Pandemic Strain

A variant of a microorganism, such as a virus or bacterium, that causes disease outbreaks on a global scale.

Mixed Strains

In microbiology and virology, referring to infections or cultures that contain two or more genetic variants of the same pathogen.

High Mortality

A state or condition of having a high death rate, often caused by environmental factors, diseases, or other external pressures.

Hawthorne Studies

A series of investigations conducted in the 1920s and 1930s that highlighted the importance of social relations and employee attitudes in the workplace.