Both USGAAP and IFRS Permit Considerable Flexibility with Respect to the the Display

question 110

Multiple Choice

Both U.S.GAAP and IFRS permit considerable flexibility with respect to the display of information in the statement of cash flows.Firms must report the beginning and ending cash balances, and the change in the cash balance. The change in cash must reconcile to the sum of the cash inflows and outflows from _____ activities.

• A)operating
• B)investing
• C)financing
• D)operating, investing, and financing
• E)none of the above

---

Definitions:

Personality

The combination of characteristics or qualities that form an individual's distinctive character.

Self-actualized Person

An individual who has realized their potential and seeks personal growth and peak experiences.

Abraham Maslow

A psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.

Personality Aspects

Different traits or characteristics that make up an individual's distinctive personality.