Which one of the following statements is false? The statement of cash flows reports the cash...
Which one of the following statements is false?
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The statement of cash flows reports the cash receipts and cash payments of an entity over a period of time. |
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Both the statement of cash flows and the income statement determine the net income for a company. |
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Transactions affecting the sale and the purchase or production of goods and services are reported in the operating activities section of the statement of cash flows. |
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Investing activities in the statement of cash flows include acquiring and selling long‑term assets. |
Homework Answers
The statement B is FALSE. The income statement determine the net income of the company not the cash flow statement.
The cash flow from operating activities begin with the net income.
The statement of cash flow reports the cash receipts and payments made throughout the year.
The operating activities report all the transactions related to the sale and purchase of goods and services.
Investing activities include the acquiring and selling of long term assets.
So, rest all the statements are TRUE.
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