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True/False: Income & Cash Flow

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True/False: Income & Cash Flow

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About this activity

Test your knowledge of income and cash flow statements

Created by

Anvar Xolmirzayev
Anvar Xolmirzayev
Uzbekistan

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True/False: Income & Cash Flow
 

True/False: Income & Cash FlowOnline version

Test your knowledge of income and cash flow statements

by Anvar Xolmirzayev
1

The income statement includes assets and liabilities.

2

The cash flow statement shows cash inflows and outflows from operating, investing, and financing activities.

3

The cash flow statement reconciles net income to net cash provided by operating activities.

4

The cash flow statement shows only cash balances at year-end.

5

Net income equals cash receipts minus cash payments ignoring accruals.

6

The primary purpose of the income statement is to report the company’s financial position at a single date.

7

The income statement reports revenues and expenses over a period.

8

The statement of cash flows explains the change in a company's cash position over a period.

9

The cash flow statement records comprehensive income including unrealized gains.

10

Net income on the income statement equals revenues minus expenses.

 
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