Lucille is preparing the _____,which shows all cash receipts and payments involved in operating the business and managing its financial activities.

Question

Quizplus · Accepted Answer

The cash flow statement shows all cash receipts and payments involved in operating the business and managing its financial activities. The income statement shows the revenues and expenses of the business over a period of time, the balance sheet shows the assets, liabilities, and equity of the business at a specific point in time, and the statement of financial position is another name for the balance sheet.

Lucille Is Preparing the _____,Which Shows All Cash Receipts and Payments