Which of the following statements about the statement of cash flows is not correct?
A. The statement of cash flows is contained in the notes to the financial statements.
B. The statement of cash flows is needed because the income statement and balance sheet do not provide adequate information about the changes in cash.
C. The statement of cash flows provides information about how each major type of business activity causes a company's cash to change.
D. GAAP requires every company to report a statement of cash flows.
Answer: A
You might also like to view...
In an export/import transaction requiring a letter of credit (L/C), the exporter's (seller's) bank can be known as the "advising" bank, the "confirming" bank, or both
Indicate whether the statement is true or false
Ravake is a manufacturer of high-end designer apparel. Competition in the apparel industry is very severe and the market is driven by price. What distribution strategy would be best suited to help Ravake obtain an edge over its competitors?
What will be an ideal response?
Discuss the concept of duality as it relates modeling an economic transaction
A pretest refers to measuring the dependent variable prior to changing the independent variable
Indicate whether the statement is true or false