Which is correct for nonfinancial firms reporting using ifrs

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Problem 1: For nonfinancial firms reporting using IFRS rules, which of the following is correct?

Multiple Choice

Option 1: Interest and dividends paid may be reported as either operating or investing activities.

Option 2: In most cases, cash flows from income taxes must be reported separately as an operating activity.

Option 3: Bank overdrafts repayable on demand used as part of normal cash management activities must include those overdrafts as part of financing activities.

Option 4: Firms using the direct method must provide a schedule reconciling net income to cash flows from operating activities.

Reference no: EM132971226

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