The ending cash balance reported on the statement of cash flows is the same as the net sales amount reported on the firm's income statement.

Question

Quizplus · Accepted Answer

The ending cash balance reported on the statement of cash flows is not the same as the net sales amount reported on the firm's income statement. The statement of cash flows reports the cash inflows and outflows for the period, including operating activities, investing activities, and financing activities, while the income statement reports revenues, expenses, and net income.

The Ending Cash Balance Reported on the Statement of Cash