Final answer:
The statement is false; significant non-cash financing and investing activities are disclosed in the financial statement notes or separate schedules, but not in the statement of cash flows.
Step-by-step explanation:
The statement that significant financing and investing activities that do not affect cash are not reported in the statement of cash flows or any other place is false. Significant non-cash transactions are indeed important for the understanding of a company's financial situation, and because they do not involve immediate cash flow, they are not included in the statement of cash flows. However, these transactions are disclosed separately, typically in the accompanying notes to the financial statements or in a separate schedule of non-cash investing and financing activities. This allows users of financial statements to view the full scope of a company's transactions, including those that have a significant impact on the financial position but do not immediately affect cash and cash equivalents.