Question : Which of the following statements about the statement of cash flow is not correct?
Option 1: Cash flow statement is part of financial statement
Option 2: Cash flow statement is prepared on cash basis of accounts
Option 3: Cash flow statement is substitute of cash account
Option 4: Cash flow reports are generally prepared at the end of the accounting year
Answer (1)
24th Jan, 2024
Correct Answer: Cash flow statement is substitute of cash account
Solution : Cash flow statement is not the substitute of cash account of the organization.
Hence the correct answer is option 3.
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