Noncash investing and financing transactions,such as the exchange of a long-term asset for a long-term liability,represent significant investing and financing activities and are reflected in a separate schedule as part of the statement of cash flows.

Question

Quizplus · Accepted Answer

Noncash investing and financing transactions are significant and are reported separately as a schedule in the statement of cash flows. This is in accordance with the accounting standard GAAP.

Noncash Investing and Financing Transactions,such as the Exchange of a Long-Term