The income statement details how an organization generates cash and where cash is used during a defined period of time.

Name: The income statement details how an organization generates cash and where cash is used during a defined period of time.
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Question

Quizplus · Accepted Answer

The income statement details revenues, expenses, and profits over a period of time, not specifically how cash is generated and used. The statement that details cash flows is the cash flow statement.

The Income Statement Details How an Organization Generates Cash and Where