Page 20 - IC46 addendum

General Insurance Accounts (IC-46)

ordinary course of business will be treated as
cash flows from operating activities.
c. IND AS7 provides new examples of cash
flows arising from financing activities.
d. IND AS7 covers requirement that cash
receipts from rent and subsequent sale of
such assets will be treated as cash flow from
operating activities.
e. All above.

24. As compared with AS3, what additional
aspects are covered by IND AS 7 in
respect of cash flows:

a. IND AS7 requires adjustment of profit loss for
the effects of undistributed profits of
associates and noncontrolling interests for
determining the net cash flow from operating
activities using indirect method.

b. IND AS7 does not require cash flows
associated with extraordinary activities to be
separately classified as arising from
operating, investing and financing activities.

c. IND AS7 requires more disclosures as
compared to AS3.

d. A and B above.
e. A, B and C above.

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