Which statement is true?
A)The statement of cash flows explains the changes between the statement of comprehensive income and the statement of financial position.
B)The statement of financial position links two statements of comprehensive income.
C)The statement of cash flows summarises the movements in the bank account over an accounting period.
D)None of the statements is true.

Question

Quizplus · Accepted Answer

The statement of cash flows provides a summary of the cash inflows and outflows over an accounting period, essentially tracking the movement in the company's bank account and cash equivalents.

Which Statement Is True