Which of the following financial statements reports an increase or decrease in net cash during the time period covered?
A) Income statement
B) Statement of owner's equity
C) Statement of cash flows
D) Balance sheet

Question

Quizplus · Accepted Answer

The statement of cash flows reports the inflows and outflows of cash during a specific time period, resulting in an increase or decrease in net cash. The income statement reports revenues and expenses, the statement of owner's equity reports changes in the owner's investment, and the balance sheet reports the assets, liabilities, and equity at a specific point in time but does not show changes in cash during the period covered.

Which of the Following Financial Statements Reports an Increase or Decrease