Under AASB 107,it is not true that:
A) operating activities generally relate to transactions that are included in the income statement
B) cash flows are classified into operating, investing and financing groupings
C) each item in the externally presented income report that results in a cash flow is required to be disclosed separately in the cash flow statement
D) none of the above is untrue

Question

Quizplus · Accepted Answer

Under AASB 107, not every item in the externally presented income report that results in a cash flow is required to be disclosed separately in the cash flow statement. The standard requires the disclosure of the operating, investing, and financing activities, but only major items within those categories need to be separately reported. Therefore, option C is incorrect. Options A, B, and D are all true statements about AASB 107.

Under AASB 107,it Is Not True That