Which of the following is a difference between IAS No.7 and SFAS No.95 FASB ASC 230)?
A)IAS No.7 requires the use of the direct method
B)IAS No.7 required the use of the indirect method
C)IAS No 7 requires the use of the all financial resources concept of funds
D)IAS No.7 requires extraordinary items be disclosed separately as operating,investing,or financing activities

Question

Quizplus · Accepted Answer

IAS No.7 requires extraordinary items to be disclosed separately within the cash flow statement, categorizing them as operating, investing, or financing activities, whereas SFAS No.95 (FASB ASC 230) does not have this requirement.

Which of the Following Is a Difference Between IAS No