b C. 41. Surf Company follows IFRS for its external financial reporting. The following amounts were available at December 31, 2021: Interest paid $22,000 Dividends paid 16,000 Taxes paid 37.000 Under IFRS, what is the maximum amount that could be reported for cash used by operating activities for Surf Company for the year ended December 31, 2021? a. $59.000 $38,000 $53,000 d. $75,000 42. Surf Company follows IFRS for its external financial reporting. The following amounts were available at December 31, 2021: Interest received $25,000 Dividends received 16,000 Under IFRS, what is the macimum amount that could be reported for cash provided by operating activities for Surf Company for the year ended December 31, 2021? $-O- $25,000 $16,000 $41,000 a. b. C. d. 43. Surf Company follows IFRS for its external financial reporting. The following amounts were available at December 31, 2021: 44. Interest paid $25,000 Dividends paid 16,000 Taxes paid on operations 37,000 Under IFRS, what is the maximum amount that could be reported for cash used by financing activities for Surf Company for the year ended December 31, 2021? a b. $62,000 $41,000 $53,000 $78,000 d. 45. In the "On the Horizon feature in the text, which of the following is discussed regarding convergence of GAAP with IFRS? a. No cash investing and financing activities will be disclosed only in the notes. b. Bank overdrafts will be classified as part of financing activities C. The statement of cash flows will present only changes in cash and will exclude changes in cash equivalents. d. All of these choices are in "On the Horizon regarding converging GAAP and IFRS, 46. Which of the following is true regarding the statement of cash flows and IFRS? a. Cash and cash equivalents are defined differently under IFRS than under GAAP. b. Companies preparing a complete set of financial statements under IFRS may exclude the statement of cash flows if the cash flow activity is reported in the notes to the financial statements c. Under IFRS most companies choose to use the direct method of reporting cash flows from operating activities. d. Under IFRS noncash investing and financing activities are excluded from the statement of cash flows and instead are presented in the notes to the financial statements