A Company Reported a Net Loss of $30,000 for 2014

question 179

Multiple Choice

A company reported a net loss of $30,000 for 2014, yet its cash balance increased during the year. Which financial statement should management refer to for an explanation of this situation?

• A)Balance Sheet
• B)Income Statement
• C)Statement of Retained Earnings
• D)Statement of Cash Flows

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A core set of ethical principles and values that guide an individual's or organization's behavior and decision-making.

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