Which of the following presents a summary of the changes in a firm's balance sheet from the beginning of an accounting period to the ending of an accounting period?
A) The statement of retained earnings
B) The statement of working capital
C) The statement of cash flows
D) The statement of net worth

Question

Quizplus · Accepted Answer

The statement of cash flows presents a summary of the changes in a firm's balance sheet from the beginning of an accounting period to the ending of an accounting period, specifically related to the cash and cash equivalents accounts. The statement of retained earnings shows changes in the company's retained earnings account, the statement of working capital is not a common financial statement, and the statement of net worth would only apply to a sole proprietorship.

Which of the Following Presents a Summary of the Changes