Explain the Options for Recording Interest and Dividends Received and Interest

question 71

Essay

Explain the options for recording interest and dividends received and interest and dividends paid on the cash flow statement according to IAS 7.

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Definitions:

Inner Classes

Classes defined within another class, useful for encapsulating helper classes tightly bound to their parent class.

Outer Class

An outer class refers to a class that is not nested within another class. It can be contrasted with inner classes.

Public

A keyword in programming that specifies an element is accessible from any other class in the program.

Private

An access modifier in object-oriented programming that restricts visibility or access to members of a class exclusively within that class.