Which of the following financial statements reports an increase or decrease in net cash during the time period covered?

Question

Quizplus · Accepted Answer

The statement of cash flows reports the changes in net cash during the time period covered. The income statement reports revenues, expenses, and net income while the statement of retained earnings reports the changes in retained earnings due to net income, dividends, and other factors. The cash budget is a projection of future cash flows, not a report of past changes.

Which of the Following Financial Statements Reports an Increase or Decrease