The cash at the end of the year reported on the statement of cash flows is the same as the
A) cash amount reported on the firm's balance sheet.
B) cash amount reported on the firm's income statement.
C) net income reported on the firm's income statement.
D) owners' equity amount reported on the firm's balance sheet.
E) total amount of assets reported on the firm's balance sheet.

Question

Quizplus · Accepted Answer

The cash at the end of the year reported on the statement of cash flows represents the cash balance of the firm at the end of the accounting period. This amount should be the same as the cash amount reported on the firm's balance sheet, as both reports reflect the same cash balance of the firm.

The Cash at the End of the Year Reported on the Statement