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Which is between income statement and cash flow statement

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Reference no: EM132823301

Problem 1: Which of the following is an asset?

Option 1: Accounts receivable
Option 2: Allowance for doubtful accounts
Option 3: Accumulated depreciation
Option 4: Patents
Option 5: All of the above

Problem 2: What is the difference between the Income Statement and the Cash Flow Statement?

Option 1: There is no difference. They both show cash coming in and out of the firm.
Option 2: The Income Statement is for a single point in time and the Cash Flow Statement covers a specific period of time
Option 3: The Income Statement shows accrual basis Net Income and the Cash Flow Statement shows why the cash balance on the Balance Sheet changed between two Balance Sheet dates.
Option 4: All of the above
Option 5: None of the above

Reference no: EM132823301

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