All of the following statements are true,except A)to analyze operations properly you need both the Statement of Income and the Statement of Cash Flows. B)in the long run total profits and net cash flows will be very similar. C)the Statement of Cash Flows considers events that the Statement of Income does not. D)the Statement of Cash Flows and the Statement of Income both cover the period of a year because profits and cash flows are very similar over the period of a year.

Question

Quizplus · Accepted Answer

The statement "in the long run total profits and net cash flows will be very similar" is not always true, as there can be significant differences between profits and cash flows over time due to factors such as depreciation and changes in working capital. The other statements are all true.

All of the Following Statements Are True,except