CA Final Financial Reporting Practice Questions - ICAI CA Final Paper 1 Financial Reporting Exam

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Under Ind AS 7 'Statement of Cash Flows', how should an entity classify interest paid and dividends paid, given the option permitted by the standard?

Interest paid may be operating or financing, and dividends paid may be financing or operating, applied consistently Both must be classified as investing activities Both are excluded from the statement of cash flows entirely Interest paid and dividends paid must always be operating activities

Correct Answer:

Interest paid may be operating or financing, and dividends paid may be financing or operating, applied consistently

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