CA Final · Financial Reporting · Ind AS 7 Statement of Cash Flows
While reviewing Ind AS 7, a trainee notices that some paragraph numbers appear as 'Deleted' in IAS 7 but are retained in Ind AS 7 to maintain consistency with IAS 7 paragraph numbering. Which of the following paragraph numbers is one of those retained as deleted?
Paragraph 29 is retained as a deleted paragraph. The Ind AS 7 comparison with IAS 7 lists paragraphs 14(e), 29, 30 and 50(b) as deleted in IAS 7 and kept only to preserve numbering, whereas paragraphs 33, 34 and 6 carry substantive content.
- AParagraph 33
- BParagraph 34
- CParagraph 29Correct
- DParagraph 6
Explanation
The comparison with IAS 7 lists paragraphs 14(e), 29, 30 and 50(b) as deleted in IAS 7 but retained in Ind AS 7 for consistent numbering. Paragraphs 33 and 34 deal with classification of interest, dividends and dividend paid, and paragraph 6 contains the definitions such as cash flows.
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