The explanation of why the net income differs from the change in cash balance for the period is explained in the ________.
A)income statement
B)balance sheet
C)statement of owner's equity
D)statement of cash flows

Question

Quizplus · Accepted Answer

The explanation for why the net income differs from the change in cash balance for the period is explained in the statement of cash flows. The statement of cash flows reconciles the net income from the income statement with the change in cash balance from the balance sheet by showing the sources and uses of cash during the period.

The Explanation of Why the Net Income Differs from the Change