Which One of the Following Items Is Not Generally Used

question 100

Multiple Choice

Which one of the following items is not generally used in preparing a statement of cash flows?

• A)Comparative statements of financial position
• B)Current income statement
• C)Additional information
• D)Adjusted trial balance

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Definitions:

Preference Shares

Shares that give holders preferential rights over common shareholders regarding dividends and assets distribution upon liquidation.

Ordinary Shares

Securities that represent ownership in a corporation, giving the holder voting rights and a share in the company's profits via dividends.

Deferred Creditor

An entity to whom a payment is owed but the payment is delayed or deferred to a future date.

Trade Creditors

Amounts owed by a business to its suppliers for goods and services purchased on credit.