The statement of cash flows is prepared from all of the following except
A) the adjusted trial balance.
B) comparative balance sheets.
C) selected transaction data.
D) the current income statement.

Question

Quizplus · Accepted Answer

The statement of cash flows is prepared using comparative balance sheets, selected transaction data, and the current income statement. The adjusted trial balance is not directly used for preparing the statement of cash flows; instead, it is used to prepare the income statement, balance sheet, and statement of retained earnings.

The Statement of Cash Flows Is Prepared from All of the Following