The income statement shows how much the cash account either increased or decreased during the period.

Name: The income statement shows how much the cash account either increased or decreased during the period.
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Question

Quizplus · Accepted Answer

The income statement shows a company's revenues and expenses over a period of time, not the changes in its cash account. The statement of cash flows is the financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.

The Income Statement Shows How Much the Cash Account Either