Asked by Mahima Nigam on Jul 17, 2024
Verified
The statement of cash flows will not report the
A) amount of checks outstanding at the end of the period.
B) sources of cash in the current period.
C) uses of cash in the current period.
D) change in the cash balance for the current period.
Checks Outstanding
Refers to checks that have been written by a company but have not yet been cashed or cleared by the bank.
Amount of Checks
The total monetary value represented by checks issued or received by an individual or business.
- Acquire knowledge on the objective and framework of the statement of cash flows.
Verified Answer
BB
Bukky BakareJul 19, 2024
Final Answer :
A
Explanation :
The amount of checks outstanding at the end of the period is considered a reconciling item and will be reported on the balance sheet but not on the statement of cash flows. The statement of cash flows will report the sources and uses of cash in the current period as well as the change in cash balance.
Learning Objectives
- Acquire knowledge on the objective and framework of the statement of cash flows.