GASB requires the ____________ method to report cash flows from operating activities in the Statement of Cash Flows.

Question

Quizplus · Accepted Answer

GASB requires the direct method to report cash flows from operating activities in the Statement of Cash Flows. This method requires a detailed presentation of cash receipts and cash payments from operating activities, providing more information to financial statement users. However, GASB allows entities to choose either the direct or the indirect method to report cash flows from operating activities.

GASB Requires the ____________ Method to Report Cash Flows from Operating