The statement of cash flows is a(n):
A) required supplemental financial statement.
B) required basic financial statement.
C) optional basic financial statement.
D) optional supplementary statement.

Question

Quizplus · Accepted Answer

The statement of cash flows is a required basic financial statement under Generally Accepted Accounting Principles (GAAP) for publicly traded companies. It provides information about the cash inflows and outflows of a company during a given period of time.

The Statement of Cash Flows Is A(n)