Which of the following comments in relation to the statement of cash flows is incorrect? The statement of cash flows:
A)allows the user of the report to determine where cash has been generated.
B)is essentially a formal statement of all transactions affecting the cash account.
C)highlights where cash has been spent.
D)is a duplication of information already provided in the other financial statements.

Question

Quizplus · Accepted Answer

The statement of cash flows provides unique information that is not available in other financial statements. It explains the movement of cash in and out of an organization and is an essential tool for analysis and decision-making.

Which of the Following Comments in Relation to the Statement