Which of the Following Statements Is Correct

question 62

Multiple Choice

Which of the following statements is correct?

• A)The bottom line on the statement of cash flows equals the change in the retained earnings on the balance sheet.
• B)The reason the statement of cash flows is important is because cash is what pays the firm's obligations, not accounting profit.
• C)If a firm has accounting profit, its cash account will always increase.
• D)All of these statements are correct.

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Definitions:

White Settlement

Traditionally refers to areas predominantly inhabited and governed by white populations, especially in contexts of historical colonization and expansion.

Indian Victory

Indian Victory refers to a successful outcome for Native American tribes or groups in battles or conflicts against colonial or federal forces, often within the context of resistance to European colonization or U.S. expansion.

Interstate Commerce Commission

The first federal agency in the United States, established in 1887, to regulate railroads and later other modes of transportation, ensuring fair rates and eliminating discriminatory practices.

Fair Rates

Charges or prices that are considered reasonable, equitable, and just, especially in the context of public utilities or services.