1-During the year, the holders of all of Tidy Corp.s convertible bonds opted to convert their bonds into shares. On the date of conversion, just prior to recording the conversion, the balances in the accounts related to the convertible bonds were as follows: Convertible bonds payable: $2,031,000 Contributed surplus common share conversion rights: 125,000 The bonds were converted into 30,000 common shares. On the date of conversion, the shares were trading at $80 per share. Tidy is a private company that prepares its financial statements in accordance with ASPE. How is this transaction reported in Tidys cash flow statement?

Question options:

	A financing activity cash inflow for issuance of common shares of $2,400,000 and a cash outflow for repayment of debt of $2,031,000.
	A financing activity cash inflow for issuance of common shares of $2,156,000 and a cash outflow for repayment of loan of $2,156,000.
	A financing activity cash inflow for issuance of common shares of $2,031,000 and a cash outflow for repayment of loan of $2,031,000.
	The transaction is not reported on the cash flow statement, but rather is disclosed in the notes.

2-Which of the following correctly describes a difference between IFRS and ASPE in the preparation of a statement of cash flows?

Question options:

	IFRS refers to the statement as the cash flow statement, whereas ASPE uses the phrase statement of cash flows.
	Under ASPE, dividends and interest received are classified as operating activities, whereas IFRS allows these to be classified as either operating or investing activities.
	Under ASPE, dividends paid and interest paid are classified as either financing or operating activities, whereas IFRS requires dividends paid to be classified as a financing activity and interest paid to be classified as an operating activity.
	Under ASPE, the amount of income taxes paid must be disclosed, whereas this disclosure is not required by IFRS.