A financial statement that summarizes the cash receipts and cash payments of a company for a specific period of time is:
A) the cash analysis statement.
B) the bank reconciliation statement.
C) the statement of cash flows.
D) the statement of retained and nonretained cash earnings.

Question

Quizplus · Accepted Answer

The statement of cash flows is a financial statement that summarizes the cash receipts and cash payments of a company for a specific period of time. Option A is incorrect because there is no such statement as the cash analysis statement. Option B is incorrect because the bank reconciliation statement is a statement that compares a company's records with those of its bank to determine whether the two are in agreement. Option D is incorrect because there is no such statement as the statement of retained and nonretained cash earnings.

A Financial Statement That Summarizes the Cash Receipts and Cash