The statement of cash flows uses the same transactions that have been reported in the income statement and balance sheet; it simply converts them from the accrual basis to a cash basis.

Question

Quizplus · Accepted Answer

The statement of cash flows shows the sources and uses of cash during a given period of time and is based on the income statement and balance sheet, but presents them on a cash basis rather than an accrual basis.

The Statement of Cash Flows Uses the Same Transactions That