Asked by
Salama Almurooshed
on Nov 14, 2024Verified
Under IFRS, cash receipts from interest and dividends are classified as
A) operating activities.
B) investing activities.
C) either operating or investing activities.
D) either financing or investing activities.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make international financial reporting more transparent and comparable across global boundaries.
Cash Receipts
The collection of money, including coins, currency, checks, and electronic funds transfers, by a business from its customers.
Operating Activities
Activities related to the day-to-day functioning of a business that affect the operating income, including sales, supply purchases, and operational expenses.
- Clarify the distinctions regarding cash flows from operating activities, investment actions, and financing movements.
- Describe the impact of transactions under different accounting standards (IFRS and ASPE).
Verified Answer
PN
Learning Objectives
- Clarify the distinctions regarding cash flows from operating activities, investment actions, and financing movements.
- Describe the impact of transactions under different accounting standards (IFRS and ASPE).