The balance in the ________ is used to check the accuracy on the ending balance of the statement of cash flows.
A)asset and liability accounts
B)liability accounts
C)cash and cash equivalent accounts
D)asset accounts

Question

Quizplus · Accepted Answer

The cash and cash equivalent accounts balance is used to check the accuracy of the ending balance on the statement of cash flows, as this statement reports the inflows and outflows of cash during a specific period. The balances of asset and liability accounts are used for other financial statements.

The Balance in the ________ Is Used to Check the Accuracy