Which of the financial statements recognizes only transactions in which cash changes hands?
A)Balance sheet
B)Income statement
C)Statement of cash flows
D)Balance sheet and income statement

Question

Quizplus · Accepted Answer

The statement of cash flows recognizes only transactions in which cash changes hands, including operating activities, investing activities, and financing activities. The balance sheet and income statement also include non-cash transactions such as depreciation and non-cash expenses.

Which of the Financial Statements Recognizes Only Transactions in Which