Which of the following is true about the IASB standards on statement of cash flows?

Question

Quizplus · Accepted Answer

The IASB standard on statement of cash flows, IAS 7, requires essentially the same information as U.S. GAAP. Therefore, option D is correct. Option A is incorrect as IAS 7 specifically requires the presentation of a statement of cash flows. Option B is incorrect as IAS 7 provides for both the direct and indirect method of determining operating cash flows. Option C is incorrect as IAS 7 requires separate presentation of operating, investing, and financing cash flows.

Which of the Following Is True About the IASB Standards