logo
Ask Question

Asked by Hannah Koldin on Jun 11, 2024

verifed

Verified

The FASB addressed simultaneous financing and investing activities by requiring they be ignored.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.

Simultaneous Financing

The process of arranging for multiple sources of finance at the same time, often for complex deals or projects.

Investing Activities

Transactions involving the acquisition or disposal of long-term assets and other investments not considered cash equivalents.

  • Comprehend how non-cash financing and investing activities are handled within the cash flow statement.
verifed

Verified Answer

MB
Maryan BerheJun 16, 2024
Final Answer :
False
Explanation :
The FASB (Financial Accounting Standards Board) requires that simultaneous financing and investing activities be disclosed either in the footnotes of the financial statements or within the statements themselves, rather than being ignored. This ensures transparency and provides a clearer picture of a company's financial activities.

Related questions

The Acquisition of Land in Exchange for Common Stock Is ...

Which of the Following Would Not Be Found in a ...

The Declaration and Issuance of a Stock Dividend Would Be ...

Describe the Format of the Statement of Cash Flows, Including ...

Define and Explain Significant Noncash Investing and Financing Activities and ...