Which of the following is not a current reporting requirement for a statement that reports changes in cash over a period of time?
A)This statement must classify cash flows into three categories: operating,investing,and financing activities.
B)Cash equivalents must be combined with cash in preparing this statement.
C)Working capital may be used as a substitute for cash in preparing this statement.
D)The title for this statement is "Statement of Cash Flows."

Question

Quizplus · Accepted Answer

Working capital cannot be used as a substitute for cash in preparing the statement of cash flows. The statement must report cash inflows and outflows from operating, investing, and financing activities only. Cash equivalents must also be combined with cash in preparing the statement, and the title of the statement must be "Statement of Cash Flows."

Which of the Following Is Not a Current Reporting Requirement