Which statement about the statement of cash flows is FALSE?
A) The statement of cash flows is based on information from several financial statements.
B) The statement of cash flows is based on information in a company's balance sheet only.
C) The change in the Cash account on the comparative balance sheets is the check figure for the statement of cash flows.
D) The indirect method of preparing the statement of cash flows is used by most companies in the United States.
Correct Answer:
Verified
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