Which Accounting Reports Are Concerned with Measuring Flows Over a Period

question 67

Multiple Choice

Which accounting reports are concerned with measuring flows over a period of time?

• A)Statement of comprehensive income and statement of financial position
• B)Statement of comprehensive income and statement of cash flows
• C)Statement of cash flows and statement of financial position
• D)Statement of comprehensive income, statement of cash flows and statement of financial position

---

Definitions:

Raw Materials Cost

The expense associated with the raw materials consumed in producing a finished product.

Raw Materials Production Needs

The quantity of raw materials required to meet production targets, taking into account current inventory levels and future production plans.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold.

Budgeted Cash Receipts

An estimate of all cash inflows a company expects to receive during a particular period based on expected sales or other income sources.