Which of the following is correct? LO11 (a) Under IFRS, the statement of cash flows is optional.

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Which of the following is correct? LO11

(a) Under IFRS, the statement of cash flows is optional.

(b) IFRS requires use of the direct approach in preparing the statement of cash flows.

(c) The majority of companies following GAAP and the majority following IFRS employ the indirect approach to the statement of cash flows.

(d) Under IFRS, companies offset financing activities against investing activities.

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Financial Accounting

ISBN: 9781118953907

8th Edition

Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso

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Question Posted: Jul 08, 2024 02:07 AM

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Which of the following is correct? LO11 (a) Under IFRS, the statement of cash flows is optional.

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Financial Accounting

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