Why Do Accounting Standards Require a Company to Separately Disclose

question 63

Essay

Why do accounting standards require a company to separately disclose income taxes paid and interest paid if it uses the indirect method?

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Definitions:

Price

Price is the amount of money required to purchase a good or service, set by the interplay of supply and demand in the market.

Resource Extraction

The process of obtaining natural resources from the Earth, such as minerals, oil, and gas, for human use.

Present

Current time or the moment that is happening now.

Future Extraction

Strategic planning for the removal or usage of natural resources, regarding supply and demand, technological advancements, and environmental impacts.