In the Case Where Financial Statements of Parent Entity or the Ultimate

question 16

Multiple Choice

In the case where financial statements of parent entity or the ultimate controlling entity are not made publicly available, the reporting entity must disclose:

• A) the name of the entity's largest shareholder;
• B) the name of the next most senior parent entity whose financial statements are publicly available;
• C) the reason of why the parent entity does not make its financial statements publicly available;
• D) the level of share ownership of the next most senior parent entity.

Recognize and describe noncash transactions that are omitted from the statement of cash flows and understand where they are disclosed.

Understand the effects of inventory changes on cash flow.

Grasp the impact of accounts payable and receivable changes on the statement of cash flows.

Comprehend the significance of amortization of discounts on bonds and investment, and its reflection on cash flows.

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