Question
Suppose you have been given the following extract from a Statement of Cash flows prepared under AASB standards: 2020 Proceeds from sale of government bonds
- Suppose you have been given the following extract from a Statement of Cash flows prepared under AASB standards:
|
| 2020 |
| Proceeds from sale of government bonds | 1,000 |
| Investment in marketable securities | (800) |
| Interest received | 50 |
| Interest paid | (60) |
| Acquisition of operating subsidiary | (500) |
| Cash Flow from Investing | (310) |
- The company is an ordinary industrial company. Which of the following would NOT have to be adjusted for when preparing the reformulated Statement of Cash Flows?
|
| A. | Investment in marketable securities |
|
| B. | Proceeds from sale of government bonds |
|
| C. | Acquisition of operating subsidiary |
|
| D. | Interest received |
|
| E. | Interest paid |
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Auditing Essentials
Authors: Frank C Giove
1st Edition
0738671509, 9780738671505
