The ________ summarizes the firm's funds flow over a given period of time.
A) income statement
B) balance sheet
C) statement of cash flows
D) statement of retained earnings

Question

Quizplus · Accepted Answer

The statement of cash flows summarizes the inflow and outflow of cash for a specific period, detailing the sources and uses of cash, including operating activities, investing activities, and financing activities. The income statement shows the revenues, expenses, and net income or loss for a given period. The balance sheet reports the company's assets, liabilities, and equity at a specific point in time. The statement of retained earnings reflects changes in the company's retained earnings balance over time.

The ________ Summarizes the Firm's Funds Flow Over a Given