1. A cash flow statement is one of the basic financial statements that is required under

	IFRS	GAAP
I.	No	Yes
II.	No	No
III.	Yes	No
IV.	Yes	Yes

A. I

B. III

C. IV

D. II

2. Unlike GAAP, IFRS encourage the disclosure of all of the following except

a. reconciliation of net income to operating cash flows when the direct method is used in the cash flow statement

b. undrawn borrowing capacity available for operating activities

c. operating, investing, and financing activities by segment

d. separation of cash flows that increase operating capacity from those that maintain operating capacity

3. When preparing a statement of cash flows using a spreadsheet, it is best to begin the spreadsheet with

a. a trial balance

b. a balance sheet and an income statement

c. a balance sheet

d. an adjusted trial balance