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CA Final Ind AS 7 Statement of Cash Flows — practice questions — page 2

Explore 72 free Ind AS 7 Statement of Cash Flows questions in CA Final Financialreporting. Open each question or exercise to read its content, reference answers and available explanation.

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Ind AS 7 Statement of Cash Flows questions and exercises with answers

Showing questions 31–60 of 72.

The direct method reports operating flows as:Read the answer and worked solution →Which item is added back to profit in the indirect method?Read the answer and worked solution →Rents collected for property owners and paid over to them may be shown:Read the answer and worked solution →Principal amounts of credit card customers' advances can be reported:Read the answer and worked solution →Which activity may a financial institution report on a net basis?Read the answer and worked solution →A foreign currency cash flow is recorded in functional currency at the rate on:Read the answer and worked solution →A foreign subsidiary's cash flows are translated at rates on:Read the answer and worked solution →For a foreign subsidiary, translating cash flows at the year-end rate is:Read the answer and worked solution →Exchange rate effect on foreign cash held is shown:Read the answer and worked solution →A weighted average exchange rate may be used if it:Read the answer and worked solution →For a non-financial entity, interest paid is classified as:Read the answer and worked solution →Interest and dividends received by a non-financial entity are:Read the answer and worked solution →Interest paid by a financial institution is classified as:Read the answer and worked solution →Dividends paid to shareholders are classified under Ind AS 7 as:Read the answer and worked solution →Interest paid was Rs 30 lakh, of which Rs 10 lakh was capitalised. Disclosed total?Read the answer and worked solution →Cash flows from taxes on income must be:Read the answer and worked solution →Tax cash flows split over several activities: what is disclosed?Read the answer and worked solution →Under equity or cost method, the investor's cash flows cover:Read the answer and worked solution →Cash flows from obtaining or losing control of a subsidiary are classified as:Read the answer and worked solution →Cash flows from a stake change in a subsidiary with no loss of control are:Read the answer and worked solution →Parent paid Rs 900 lakh cash for control; the subsidiary held Rs 150 lakh cash. Investing outflow?Read the answer and worked solution →Cash effects of losing control versus obtaining control are:Read the answer and worked solution →A transaction needing no cash or cash equivalents is:Read the answer and worked solution →Which is a non-cash investing and financing transaction?Read the answer and worked solution →Acquiring assets by assuming directly related liabilities is:Read the answer and worked solution →Ind AS 7 requires a reconciliation of cash and cash equivalents to:Read the answer and worked solution →A change in the policy for composing cash equivalents is reported under:Read the answer and worked solution →Significant cash balances unavailable for group use must be disclosed with:Read the answer and worked solution →Which circumstance makes a subsidiary's cash unavailable to the group?Read the answer and worked solution →Disclosure of cash flows by reportable segment refers to:Read the answer and worked solution →

Worked practice questions

The direct method reports operating flows as:

  1. Net change in working capital only
  2. Segment-wise profit by region
  3. Gross receipts and payments by class
  4. Profit adjusted for non-cash items
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Correct answer: C. Gross receipts and payments by class

The direct method discloses major classes of gross cash receipts and gross cash payments.

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Which item is added back to profit in the indirect method?

  1. Cash received from customers
  2. Depreciation on fixed assets
  3. Interest received on loans
  4. Dividends paid to owners
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Correct answer: B. Depreciation on fixed assets

Depreciation reduces profit without any cash leaving, so it is added back as a non-cash item.

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Rents collected for property owners and paid over to them may be shown:

  1. On a net basis
  2. Under investing only
  3. Gross under operating
  4. Gross under financing
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Correct answer: A. On a net basis

Receipts and payments made on behalf of customers that reflect the customer's activity can be netted.

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More Financialreporting topics

Ind AS 116 LeasesInd AS 36 Impairment of Assets and Ind AS 38 Intangible AssetsInd AS 24 Related Party Disclosures and Ind AS 108 Operating SegmentsInd AS 1 Presentation of Financial StatementsInd AS 12 Income TaxesInd AS 113 Fair Value MeasurementInd AS 109 Financial InstrumentsInd AS 23 Borrowing Costs and Ind AS 40 Investment Property