Which of the following directly preceded the statement of cash flows?
A)The funds flow statement
B)The sources and uses of funds statement
C)The statement of changes in financial position
D)The sources and uses of resources statement

Question

Quizplus · Accepted Answer

The statement of changes in financial position was replaced by the statement of cash flows as a more detailed and informative statement of the changes in a company's cash position. Therefore, the statement of changes in financial position directly preceded the statement of cash flows. Options A, B, and D are not directly related to the statement of cash flows.

Which of the Following Directly Preceded the Statement of Cash