Under both U.S.GAAP and IFRS, nonmonetary transactions do not appear in the statement of cash flows as investing or financing activities, because they do not help in explaining the change in cash.Firms must disclose nonmonetary investing and financing activities in _____.
A)the body of the statement of cash flows, only
B)a separate schedule, only
C)a note, only
D)the body of the statement of cash flows, in a separate schedule, or in a note
E)none of the above

Question

Quizplus · Accepted Answer

Nonmonetary investing and financing activities are disclosed outside the cash flow statement under both U.S. GAAP and IFRS. This can be done in the body of the statement, in a separate schedule, or in a note, providing flexibility in how these activities are reported.

Under Both U