Under ASPE the receipt of interest on loans would be reported on a statement of cash flows under the:
A) financing activities
B) investing activities
C) operating activities
D) no activities because interest received on loans would not be reported on a statement of cash flows

Question

Quizplus · Accepted Answer

Under Accounting Standards for Private Enterprises (ASPE) in Canada, the receipt of interest on loans is classified as an operating activity on the statement of cash flows. This is because interest received is considered part of the entity's primary revenue-producing activities, which are typically reflected in the operating activities section.

Under ASPE the Receipt of Interest on Loans Would Be