U.S.GAAP requires the disclosure of the direct exchange (with no cash consideration) of a tract of land for manufacturing equipment to be used in the company's operations
A)as an operating activity.
B)as an investing activity.
C)as a financing activity.
D)as an exchange activity.
E)in a separate schedule or note, but does not appear in the statement of cash flows as an operating activity, investing activity, or a financing activity.

Question

Quizplus · Accepted Answer

Under U.S. GAAP, non-cash transactions like the direct exchange of a tract of land for manufacturing equipment are not reported in the statement of cash flows. Instead, they are disclosed in a separate schedule or note to the financial statements.

USGAAP Requires the Disclosure of the Direct Exchange (With No