Which of the following statements is false?
A. A balance sheet reports a company's cash balance at a specific date.
B. An income statement reports the amounts of revenue and expense on an accrual basis.
C. A statement of retained earnings reports the amount of cash received from operating activities and the amount of cash paid for dividends.
D. A statement of cash flows explains the changes in cash from operating, investing, and financing activities.
Answer: C
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What will be an ideal response?
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Indicate whether the statement is true or false