Which of the following presents a summary of income and outflows for a period of time?
A)A cash flow statement
B)A bank statement
C)An investment summary
D)balance sheet
E)An asset report

Question

Quizplus · Accepted Answer

A cash flow statement presents a summary of income and outflows for a period of time, showing the changes in cash balances such as cash inflows from sales and outflows for expenses or investments. A bank statement shows transactions related to account balances, while an investment summary and asset report typically provide information on investments and assets held by an individual. A balance sheet presents a snapshot of assets, liabilities, and equity at a specific point in time.

Which of the Following Presents a Summary of Income and Outflows