Cash flows and an income statement are prepared regardless

Assignment Help Accounting Basics

Reference no: EM13916444

Since both the income statement and the statement of cash flows report on company changes,

a.an income statement is not necessary if a statement of cash flows is prepared.

b.a statement of cash flows is not necessary if an income statement is prepared.

c.a statement of cash flows and an income statement are prepared regardless.

d.a balance sheet is not necessary if an income statement and a statement of cash flows is prepared.

e.a balance sheet is not necessary if either an income statement or a statement of cash flows is prepared.

Reference no: EM13916444

Questions Cloud

Corporate headquarters : Mr. Z is the sole shareholder of TZ. He also owns the office building that serves as corporate headquarters

Difference between a country and a nation : In the Globalization Website, read the sections titled Does Globalization Diminish Cultural Diversity? under "Issues," and The World Culture Theory under "Theories".

Both foraging and horticultural societies : Identify and explain the major forms of reciprocity found in both Foraging and Horticultural societies and provide examples regarding how they impact the level of conflict found in these societies.

Discuss the key components that comprise the talent quotient : your are asked to speak at annual strategic Leadership Conference for power and light company to discuss the Key components that comprise the talent quotient

Cash flows and an income statement are prepared regardless : an income statement is not necessary if a statement of cash flows is prepared.a statement of cash flows is not necessary if an income statement is prepared.a statement of cash flows and an income statement are prepared regardless.

Alternative tax years available to a corporation : What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year?

Monthly production volume : average cost data for two levels of monthly production volume-The company produces a single product

What is the chance that it will be verified as true : The TV Show "MythBusters" puts a popular myth to the test on each episode. If a myth involves fire, what is the chance that it will be verified as true

Sociol-economic and political organization of the society : Reflect on the material you read on band, tribes, and states. Explain why monumental architecture is unique to cities. What do such displays imply about the socio- economic and political organization of the society that created it?

User Account

All Pages