Lucy is preparing the _____, which shows all cash receipts and payments involved in operating the business and managing its financial activities.
A)statement of profit and loss and other comprehensive income
B)statement of financial position.
C)statement of cash flows
D)statement of financial position

Question

Quizplus · Accepted Answer

The statement of cash flows shows all cash receipts and payments involved in operating the business and managing its financial activities. The statement of profit and loss and other comprehensive income shows the company's revenue and expenses, while the statement of financial position shows the company's assets, liabilities, and equity at a particular point in time. The statement of cash flows is the best choice for describing Lucy's task.

Lucy Is Preparing the _____, Which Shows All Cash Receipts