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Under Both U

Question 21

Multiple Choice

Under both U.S.GAAP and IFRS, nonmonetary transactions do not appear in the statement of cash flows as investing or financing activities, because they do not help in explaining the change in cash.Firms must disclose nonmonetary investing and financing activities in _____.


A) the body of the statement of cash flows, only
B) a separate schedule, only
C) a note, only
D) the body of the statement of cash flows, in a separate schedule, or in a note
E) none of the above

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