Which of the following financial statements reports an increase or decrease in net cash during the time period covered?
A)income statement
B)statement of owner's equity
C)statement of cash flows
D)cash budget

Question

Quizplus · Accepted Answer

The statement of cash flows reports the increase or decrease in net cash during the time period covered, and it also breaks down the sources and uses of cash. The income statement reports revenues, expenses, and net income, but it does not necessarily reflect changes in cash flow. The statement of owner's equity shows how the owner's equity changed during the time period, but it does not necessarily reflect cash inflows or outflows. The cash budget is a projection of expected cash inflows and outflows for a future time period, and does not report actual changes in net cash during the time period covered.

Which of the Following Financial Statements Reports an Increase or Decrease