The Statement of Cash Flows and Statement of Income are both important measurements of long-term profitability.

Question

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While the Statement of Cash Flows and Statement of Income are both important financial statements, the Statement of Cash Flows focuses on a company's cash inflows and outflows, while the Statement of Income focuses on a company's revenues and expenses over a specific period of time. The two statements provide different insights into a company's financial health and should be viewed together, but they measure different aspects of profitability.

The Statement of Cash Flows and Statement of Income Are