Which of the following is true regarding the Statement of Cash Flows for a public college?
A) Cash received for interest is reported as an increase in cash flows from operating activities.
B) Cash paid for interest is reported as a decrease in cash flows from either noncapital or capital and related financing activities.
C) Both of the above are true.
D) Neither of the above is true

Question

Quizplus · Accepted Answer

According to GASB 34, cash paid for interest is reported as a decrease in cash flows from either noncapital or capital and related financing activities. Cash received for interest is not typically reported on the Statement of Cash Flows for a public college.

Which of the Following Is True Regarding the Statement of Cash