Cash paid for taxes and interest must be disclosed on the face of the statement or in the disclosure notes under both the direct and indirect methods of reporting cash flows from operating activities.

Question

Quizplus · Accepted Answer

According to Generally Accepted Accounting Principles (GAAP), cash paid for taxes and interest must be disclosed on the face of the statement or in the disclosure notes under both the direct and indirect methods of reporting cash flows from operating activities. Therefore, the statement is true.

Cash Paid for Taxes and Interest Must Be Disclosed on the Face