Practice Quiz

CLEP Accounting

Category - Accounting

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The statement of cash flow reports are used for the following:

I Investing activities
II Financing activities
III Operating activities
IV Supplemental activities
  1. I
  2. II
  3. III
  4. I, II, and III
  5. I, II, III, and IV
Explanation
Answer - E - The statement of cash flow reports are used in investing, financing, operating, and supplement activities.

Key Takeaway: The cash flow statement provides four categories: Operating (income statement activities), Investing (for example, the sale of property), Financing (for example, stock), and Supplemental (for example, the income taxes or interest paid for the year).
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