Match the financial statement that goes with each term.
-Details the inflows and outflows of cash during a specified period of time.
A)income statements
B)notes
C)balance sheet
D)statement of cash flows
E)statement of retained earnings (reconciliation of retained earnings)

Question

Quizplus · Accepted Answer

The statement of cash flows details the inflows and outflows of cash during a specified period of time.

Answer: A 
 The income statement reports a company's revenues and expenses over a specific period of time, resulting in a net income or loss.

Answer: C 
 The balance sheet shows a company's assets, liabilities, and equity at a specific point in time.

Answer: E 
 The statement of retained earnings shows the changes in a company's retained earnings balance over a specific period of time.

Answer: B 
 Notes are additional details and disclosures included with financial statements to provide further explanation or clarification.

Match the Financial Statement That Goes with Each Term