Which of the following is NOT a requirement for a statement that reports changes in cash...
Which of the following is NOT a requirement for a statement that reports changes in cash over a period of time?
a Non-cash transactions, such as investing and financing transactions that do not require the use of cash or cash equivalents, are included in the statement of cash flows as well.
b The period in which the statement of cash flows is prepared must be provided in the title of the statement
c The statement must classify cash flows into three categories: operating, investing, and financing activities
d The net change in cash on the statement of cash flows will be equal to the difference between the beginning and ending cash balance from the statement of financial position
Homework Answers
GIVEN INFORMATION:
a Non-cash transactions, such as investing and financing transactions that do not require the use of cash or cash equivalents, are included in the statement of cash flows as well.
b The period in which the statement of cash flows is prepared must be provided in the title of the statement
c The statement must classify cash flows into three categories: operating, investing, and financing activities
d The net change in cash on the statement of cash flows will be equal to the difference between the beginning and ending cash balance from the statement of financial position.
REQUIRED:
NOT a requirement for a statement that reports changes in cash over a period of time?
SOLUTION:
The net change in cash on the statement of cash flows will be equal to the difference between the beginning and ending cash balance from the statement of financial position.
THERE FORE OPTION "D" IS CORRECT ANSWER
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