Which of the Following Financial Statements Reports an Increase or Decrease

question 71

Multiple Choice

Which of the following financial statements reports an increase or decrease in net cash during the time period covered?

• A)income statement
• B)statement of owner's equity
• C)statement of cash flows
• D)cash budget

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Definitions:

Accounts

Records that summarize financial transactions pertaining to a business entity’s assets, liabilities, equity, revenues, and expenses.

Increases and Decreases

Terms used to describe the upward and downward movements in financial and non-financial metrics within business operations.

T Account

The simplest form of an account.

Debit

An accounting entry that represents an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.