The statement of cash flows is:
A. A financial statement that presents information about changes in equity during a period.
B. A financial statement that reports the cash inflows and cash outflows for an accounting period, and that classifies those cash flows as operating activities, investing activities, or financing activities.
C. A financial statement that lists the types and amounts of assets, liabilities, and equity of a business on a specific date.
D. A financial statement that lists the types and amounts of the revenues and expenses of a business for an accounting period.
E. Another name for the statement of financial position.
Answer: B
You might also like to view...
The source code field of each GL entry provides a beginning point of reference for developing a proper ______________________________
Fill in the blank(s) with correct word
Which of the following stages of the classic linear approach of a new product development process is related to continuous updating and refinement of products and services?
A) idea generation B) life-cycle management C) business analysis D) initial design and concept screening
Which of the following is true regarding asset abandonment?
a. Firms will sometimes abandon assets if there is no market for the asset. b. The firm eliminates the carrying value of the asset and recognizes a loss in an amount equal to the carrying value. c. Firms will sometimes abandon assets if an automobile is severely damaged in an accident. d. Firms will sometimes abandon assets if a machine requires an overhaul that is not cost effective. e. all of the above
Courts can apply a consumer expectation test to evaluate the adequacy of a product's design
Indicate whether the statement is true or false