Which of the following tracks incoming and outgoing money and shows ho
QUESTION
Which of the following tracks incoming and outgoing money and shows how the firm got and used money?
A) the balance sheet
B) the income statement
C) the statement of cash flows
D) the retained earnings report
E) the owners’ equity statement
ANSWER
Answer: C
Explanation: C) The statement of cash flows indicates the inflow and outflow of money and shows how the firm got and used cash.
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