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Statement of Cash Flow

?

A company can report interest payments and interest received as operating cash flows using

Either U.S. GAAP and IFRS.IFRS.U.S. GAAP.Neither U.S. GAAP and IFRS.

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (A)

Either U.S. GAAP and IFRS.

GAAP requires interest payments and interest received to be reported as an operating activity. IFRS allows interest payments to be reported as either an operating activity or financing activity and interest received as either an operating activity or investing activity.

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