Which of the following is true about the IASB standards on Cash Flow Statements?
A)Cash flow statements are not required under the IASB standards.
B)Operating cash flows must be determined using the "direct method."
C)Operating cash flows may be combined with financing cash flows.
D)IAS 7 requires essentially the same information in the cash flow statement as U.S.GAAP.

Question

Quizplus · Accepted Answer

IAS 7, which governs cash flow statements under IASB standards, requires similar information to U.S. GAAP, including operating, investing, and financing cash flows.

Which of the Following Is True About the IASB Standards