Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 74

If a company engages in a material noncash transaction, which of the following is required
A) The company must include an explanatory narrative or schedule accompanying the statement of cash flows.
B) No disclosure is necessary.
C) The company must include an explanatory narrative or schedule accompanying the balance sheet.
D) It must be reported in the investing and financing sections of the statement of cash flows.