A Cash Flow Statement Is

question 115

Multiple Choice

A cash flow statement is

• A)an accurate recording recent actual expenses and incomes.
• B)a forecast of cash inflows and outflows in the future.
• C)not concerned with unusual sources of income or irregular minor expenses.
• D)only concerned with the most recent regular expenses and incomes.

---

Definitions:

Implied-In-Law

Refers to obligations and rights that arise from certain acts or situations as recognized by courts, despite no explicit agreement or contract.

Void Contract

A contract that is legally unenforceable from the start due to illegality or inability to fulfill the terms.

Quasi-Contract

Not an actual contract but a legal construct imposed by courts to prevent unjust enrichment where no formal contract exists.

Unjustly Enriched

A legal term describing a situation where one party benefits at another's expense without a valid basis for the gain.