A cash flow statement is one of the basic financial statements that is required under $\begin{array}{lll}
& \text { IFRS} & \text { GAAP}\
\text { I. } & \text { No } & \text { Yes } \
\text { II. } & \text { No } & \text { No } \
\text { III. } & \text { Yes } & \text { No } \
\text { IV } & \text { Yes } & \text { Yes }
\end{array}$
A)I
B)II
C)III
D)IV

Question

A cash flow statement is one of the basic financial statements that is required under $\begin{array}{lll}
 & \text { IFRS} & \text { GAAP}\
\text { I. } & \text { No } & \text { Yes } \
\text { II. } & \text { No } & \text { No } \
\text { III. } & \text { Yes } & \text { No } \
\text { IV } & \text { Yes } & \text { Yes }
\end{array}$
A)I
B)II
C)III
D)IV

Quizplus · Accepted Answer

Both IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Principles) require the preparation of a cash flow statement as part of an entity's financial statements.

A Cash Flow Statement Is One of the Basic Financial