A(n)_____ answers the question: How much cash was taken in and paid out during the period?

Question

Quizplus · Accepted Answer

The statement of cash flows is designed to answer the specific question of how much cash came in and went out during the period. The income statement measures profitability, the balance sheet shows a snapshot of the company's financial position at a given point in time, the statement of retained earnings shows changes in the company's retained earnings account, and the statement of net value is not a commonly used financial statement.

A(n)_____ Answers the Question: How Much Cash Was Taken in and Paid