Multiple Choice
Which of the following statements regarding preparation of the statement of cash flows is true?
A) GAAP currently allows the indirect method only.
B) IFRS currently allows the direct method only.
C) The IASB and the FASB are considering requiring the direct method.
D) The IASB and the FASB are considering requiring the indirect methoD.GAAP and IFRS currently allow both the direct method and the indirect method.The IASB and the FASB are considering requiring the direct method.
Correct Answer:
Verified
Correct Answer:
Verified
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