The Statement of Cash Flows,like the Income Statement,reports Only Operating

question 93

True/False

The statement of cash flows,like the income statement,reports only operating activities of a company.

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Definitions:

Merchandise

Goods bought and sold by businesses, typically in the retail industry.

Journal Entry

A journal entry is a record in the accounting books that logs a business transaction, indicating the accounts and amounts to be debited and credited.

Inventory

The total amount of goods and materials held by a business for the purpose of resale or production.

Selling Expense

Costs incurred directly and indirectly in making sales, including advertising, shipping, and sales staff salaries.