Reference no: EM133012331

Problem 1: Under IAS 7items required to be disclosed in notes attached to the cash flow statement is/are:

A. A reconciliation of cash and cash equivalents with the items reported in the balance sheet

B. A reconciliation of net cash from operating activities with profit after income tax

C. Details of cash flows from the acquisition and disposal of subsidiaries

D. All of the above

E. A and B

Problem 2: Which of these statements, relating to cash flow statements, is incorrect?

A. Cash flows from one activity are not normally offset against cash flows from a different activity

B. GST is not included anywhere in the cash flow statement

C. Cash outflows are shown in brackets

D. The statement is headed 'for the period ended'

E. None of the above, i.e. all are correct.