The Statement of Cash Flows Does Which of the Following

question 59

Multiple Choice

The statement of cash flows does which of the following?

• A) Identifies all assets held at the end of the accounting period by type and amount.
• B) Explains what caused profit during the accounting period.
• C) Explains that the trial balance is in balance.
• D) Explains all of the sources and uses of cash during the accounting period.

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Definitions:

Rejection

The refusal to accept an offer or proposal, in the context of contracts, it is the refusal to agree to the terms.

Valid

A term applied to a contract that includes all four elements of a contract: agreement (offer and acceptance), consideration, contractual capacity, and legal object.

Time Condition

A stipulation in a contract or agreement that specifies a period or deadline by which certain actions must be performed.

Primary Sources

Original documents or evidence directly related to a topic, used in research or historical context.