One Area of Difference Between GAAP and IFRS Cash Flow

question 62

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 dividend and interest paid or received

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Definitions:

Manure

Organic matter, mainly derived from animal feces, used as fertilizer in agriculture.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Bananas

A tropical fruit that is elongated and crescent-shaped when ripe, commonly used in economics examples to discuss trade or market dynamics.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price over a specified period.