Question : Which of the following statements is incorrect?
Option 1: Cash Flow Statement is not a substitute for Income Statement
Option 2: Cash Flow Statement shows only the inflows and outflows of Cash
Option 3: Income Statement shows both cash and non-cash items of revenue nature
Option 4: None of the above
Correct Answer: None of the above
Solution : Answer = None of the above
All of the above statements are correct cash flow statement is not a substitute of the Income statement and records only cash transactions and only revenue nature items are recorded in the Income statement. Hence, the correct option is 4.
Question : Which of the following statements is true?
Question : Income and expenditure account records income and expenditure of :
Question : Which of the following statements about the statement of cash flow is not correct?
Question :
Which of the following statements states the difference between a cash flow statement and a cash budget?
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