Asked by
SAMANTHA SOLEDAD
on Nov 14, 2024
Verified
The primary purpose of the statement of cash flows is to provide information about the cash receipts and cash payments of a company during a period.
Statement of Cash Flows
A financial report that consolidates information about all cash received and expended by a business.
Cash Receipts
The collection of money, such as income from sales or assets being liquidated, recorded during an accounting period.
Cash Payments
Money transactions made to settle obligations or purchases.
- Understand the critical role and intent of financial statements in sharing business activities.
Verified Answer
BM
Learning Objectives
- Understand the critical role and intent of financial statements in sharing business activities.
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