Consider the following statements regarding the Cash Flow Statement under Indian Accounting Standards (Ind AS): Statement 1: The preparation and presentation of a Cash Flow Statement is completely voluntary for companies operating under Ind AS. Statement 2: Ind AS 7 mandates the disclosure of cash flows and permits both direct and indirect methods for operating activities. Choose the correct option:

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Accounting · Accounting Standards - Cash Flow Statement

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Statement 1 is false, but Statement 2 is true.

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Answer 1

Statement 1 is false, but Statement 2 is true.

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Both statements are true.

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Both statements are false.

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Statement 1 is true, but Statement 2 is false.

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