Which of the following is correct? (a) Under IFRS, the statement of cash flows is optional. (b)

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Which of the following is correct?

(a) Under IFRS, the statement of cash flows is optional.

(b) IFRS requires use of the direct approach in preparing the statement of cash flows.

(c) The majority of companies following GAAP and the majority following IFRS employ the indirect approach to the statement of cash flows.

(d) Cash and cash equivalents are reported as separate line items under IFRS.

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Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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Question Posted: Feb 15, 2024 09:00 AM

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Which of the following is correct? (a) Under IFRS, the statement of cash flows is optional. (b)

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Financial And Managerial Accounting

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