According to Accounting Standard 3 (AS-3) / Ind AS 7, a cash flow statement must report cash flows classified by which of the following core business activities? 1. Operating Activities 2. Non-Operating Activities 3. Investing Activities 4. Financing Activities 5. Leasing Activities

Under Accounting Standard 3 (AS-3) / Ind AS 7 (Cash Flow Statements), the cash flows of an enterprise must be strictly classified and reported under three main categories: 1. Operating Activities: The principal revenue-producing activities of the enterprise and other activities that are not investing or financing activities (e.g., cash received from sale of goods, cash paid to suppliers). 2. Investing Activities: The acquisition and disposal of long-term assets and other investments not included in cash equivalents (e.g., purchase/sale of fixed assets like property, plant, and equipment). 3. Financing Activities: Activities that result in changes in the size and composition of the owners’ capital and borrowings of the enterprise (e.g., proceeds from issuing shares, repayment of bank loans). "Non-Operating" and "Leasing" are not distinct, separate classification categories for cash flow reporting under AS-3. Lease transactions are ultimately categorized into one of the three core pillars (typically operating or financing) depending on the nature of the lease.