In order to identify the amount of funds that a firm borrowed during the preceding year,what section is the best source within the Statement of Cash Flows?

Question

Quizplus · Accepted Answer

The financing flows section of the Statement of Cash Flows reports the inflows and outflows of cash resulting from transactions with lenders, such as borrowing funds. Therefore, this section is the best source to identify the amount of funds that a firm borrowed during the preceding year.

In Order to Identify the Amount of Funds That a Firm