Which of the financial statements recognizes only transactions in which cash changes hands?
A) Balance sheet
B) Income statement
C) Statement of cash flows
D) Balance sheet and income statement
E) All of the options are correct.

Question

Quizplus · Accepted Answer

The Statement of Cash Flows is the financial statement that recognizes only transactions in which cash changes hands. It provides a detailed analysis of what happened to a company's cash during a given period, categorizing cash flows into operating, investing, and financing activities.

Which of the Financial Statements Recognizes Only Transactions in Which