Which of the following financial statements is used to report cash receipts for services provided?
A) income statement
B) balance sheet
C) statement of owner's equity
D) statement of cash flows

Question

Quizplus · Accepted Answer

The statement of cash flows shows the inflows and outflows of cash and is used to report cash receipts for services provided. The income statement shows revenue and expenses, while the balance sheet shows the financial position of the company at a particular point in time. The statement of owner's equity shows changes in the owner's investment over time.

Which of the Following Financial Statements Is Used to Report