The statement of cash flows reports business activities on an accrual basis.Group startsTrue or False
Question
Solution 1
Answer
The statement of cash flows reports business activities on a cash basis, not an accrual basis. Therefore, the statement you provided is False.
Explanation
- Accrual Basis vs. Cash Basis: The accrual basis of accounting recognizes revenue when it is earned and expenses whe Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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