CFA Practice Question

There are 1201 practice questions for this topic.

CFA Practice Question

Which statement is CORRECT regarding presentation choices permitted in IAS 7?

A. Interest paid must be classified as operating cash flows.
B. Interest paid must be classified as financing cash flows.
C. Interest paid may be classified as either operating or financing cash flows.
Correct Answer: C

IAS allows the choice of operating or financing for interest paid or received.

User Contributed Comments 2

User Comment
Inaganti6 Under US GAAP it's only CFO ?
r3v3r3n6o Yes, only CFO under US GAAP.
You need to log in first to add your comment.