A Statement of Cash Flows Summarizes the Operating ____________ and ___________

question 206

Short Answer

A statement of cash flows summarizes the operating ____________ and ___________ activities of an entity.

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Definitions:

Natural Resources

Physical or material resources occurring in nature that can be used for economic gain, such as water, timber, coal, oil, and minerals.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.

Research and Development

Activities undertaken by a business to develop new products or improve existing ones, often involving innovation and technological advancement.

Capitalized

The process of recording an expenditure as an asset, rather than an expense, allowing a company to spread out the cost over time.