The financial statement that reports cash receipts and cash payments classified according to the company's major activities of operating, investing, and financing is the:
A) income statement.
B) balance sheet.
C) statement of cash flows.
D) statement of operating activities.

Question

Quizplus · Accepted Answer

The statement of cash flows provides information about the company's cash receipts and cash payments categorized by operating, investing, and financing activities, making it the correct answer. The income statement reports revenues and expenses, the balance sheet reports assets, liabilities, and equity at a specific point in time, and the statement of operating activities is not a commonly used financial statement.

The Financial Statement That Reports Cash Receipts and Cash Payments