Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following statements about classifica

Which of the following statements about classification choices is correct? Multiple Choice A) GAAP classifies...

80.2K

Verified Solution

Question

Accounting

Which of the following statements about classification choices is correct?

Multiple Choice

A) GAAP classifies cash dividends paid as a financing activity, but IFRS allows them to be classified as either an operating or financing activity.

B) GAAP allows interest paid to be classified as either an operating or financing activity, but IFRS requires that it be classified as a financing activity.

C) GAAP classifies cash dividends received as an investing activity, but IFRS allows them to be classified as either an operating or investing activity.

D) GAAP classifies interest received as either an operating or investing activity, but IFRS requires it to be classified as an investing activity.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1a. If you take out a car loan for $30,000 for 6 years at 4.5% Simple...

Finance
Q

What is the pH of a 0.11 M solution of C6H5OH (Ka = 1.3 x 10^-10)?

Chemistry
Q

How important is a deceived party’s reliance on another’s misrepresentation to establishing a case against a deceiving party? Give...

Operations Management
Q

Prepare a typewritten paper describing your plan to improve the process (TASK) in an organization like...

General Management
Q

Which of the following is a true statement? A. Fraud by active concealment occurs when a party...

General Management
Q

For each of the following determine whether the statistical study described is an observational study...

Statistics
Q

An arc subtends a central angle measuring 2 pi 3 radians

Algebra
Q

1. Chongyun Company incurred the following costs during the current year: ...

Accounting
Q

Sigma Corporation aplica costos generales a los trabajos sobre la base del costo de mano...

Accounting
Q

Exercise 14-7 Indigo Company sells 8% bonds having a maturity value of $1,700,000 for $1,511,507....

Accounting
Q

Break-Even Sales Under Present and Proposed Conditions Darby Company, operating at full capacity, sold 143,000...

Accounting
Q

McConnell Corporation has bonds on the market with 14 years to maturity, a YTM of...

Finance