Which of the following is the financial statement used to assess the sources and uses of cash during the year?
A) trial balance
B) balance sheet
C) income statement
D) statement of cash flows

Question

Quizplus · Accepted Answer

The statement of cash flows is a financial statement that shows the sources and uses of cash during a specific period. It provides information on cash inflows and outflows from operating, investing, and financing activities. The trial balance is a list of all accounts and their balances, while the balance sheet shows the financial position of a company at a specific point in time. The income statement shows the revenues, expenses, and net income of a company during a specific period.

Which of the Following Is the Financial Statement Used to Assess