Which of the following statements is not true?
A)The statement of cash flows does not replace the income statement.
B)The statement of cash flows provides details as to how cash changed during a period.
C)The statement of cash flows provides information about cash receipts and cash payments over a period of time.
D)The statement of cash flows measures profitability.

Question

Quizplus · Accepted Answer

The statement of cash flows does not measure profitability. It provides information about how a company generated and used cash over a period of time. Profitability is measured by the income statement.

Which of the Following Statements Is Not True