The Financial Statement That Describes Where a Company's Cash Came

question 168

Multiple Choice

The financial statement that describes where a company's cash came from and where itwent during the period is the:

• A)Statement of cash flows.
• B)Statement of changes in equity.
• C)Income statement.
• D)Statement of financial position.
• E)Balance sheet.

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Definitions:

Regulatory Controls

Mechanisms put in place by a government or regulatory body to manage operations and behaviors within industries to ensure compliance with legal standards and to protect public interest.

Unlimited Liability

A legal obligation in business where owners are personally responsible for all debts of the business, extending to their personal assets.