Which of these statements is not one of the financial statements? A. income statement B. balance sheet C. statement of cash flows D. statement of owner investments
Which of these statements is not one of the financial statements? A. income statement B. balance sheet C. statement of cash flows D. statement of owner investments
Which of these statements is not one of the financial statements?
A. income statement
B. balance sheet
C. statement of cash flows
D. statement of owner investments
Definition Definition Net amount of cash that an entity receives and expends over the course of a given period. For a business to continue operating, positive cash flows are required, and they are also necessary to produce value for investors. Investors in particular prefer to see growing cash flows even after capital expenditures have been paid for (which is known as free cash flow).
Expert Solution & Answer
To determine
Concept introduction:
Financial statements:
Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.
To choose:
The Statement that is not one of the financial statements
Answer to Problem 1MC
Statement of owner’s investments
Explanation of Solution
Explanation for correct answer:
Statement of owner’s investments is not one of the financial statements. Hence the correct option is d.
Explanation for incorrect answers:
A. Income Statement is one of the financial statements. Hence this option is incorrect.
B. Balance Sheet is one of the financial statements. Hence this option is incorrect.
C. Statement of Cash Flows is one of the financial statements. Hence this option is incorrect.
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Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flows
Which of these statements is not one of the financial statements?A. income statementB. balance sheetC. statement of cash flowsD. statement of owner investments
Financial statements generally include all BUT which of the following? Group of answer
choices A. Income statement B. Government income tax return C. Balance sheet D.
Statement of cash flows
Financial Accounting (12th Edition) (What's New in Accounting)
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