Suppose a Company Generally Records Revenues and Expenses Before Receiving

question 102

Multiple Choice

Suppose a company generally records revenues and expenses before receiving or making cash payments.Which of the following statements is not correct?

• A)If revenues are falling,a net loss could result even though the company reports a net cash inflow from operating activities.
• B)If revenues are rising,net income could result even though the company reports a net cash outflow from operating activities.
• C)Net income and net cash flows provided by operating activities will always agree.
• D)The income statement doesn't explain changes in cash because it focuses on just the operating results of the business.

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