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Practice Question 08 Which of the following statements is correct? Significant financing and investing activities that...

Question:

Practice Question 08 Which of the following statements is correct? Significant financing and investing activities that do not
Practice Question 08 Which of the following statements is correct? Significant financing and investing activities that do not affect cash are not reported since they don't affect cash. Significant financing and investing activities that do not affect cash are reported in either a separate schedule at the bottom of the statement Significant noncash financing and investing activities are reported on the company's income statement. Only financing and investing activities that directly affect cash are reported in a company's statement of cash flows.

Answers

Significant financing and investing activities that do not affect cash are reported in either a separate schedule at the bottom of the statement
of cash flows or in a separate note or supplementary schedule to the financial statements.
This is in consistency with the full disclosure principle which requires all materials events to be disclosed in the financial statements.
Option B is correct
.

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