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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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A worksheet approach to preparing the statement of cash flows

  1. a. is a useful aid.
  2. b. uses a spreadsheet format.
  3. c. offers an efficient and logical way of organizing the data.
  4. d. allows an easy extraction of the needed data.
  5. e. All of these.

To determine

Identify the option which states the usefulness of the worksheet approach.

Explanation

Worksheet Approach:

The technique used in preparing the statement of cash flow with less confusion and complexity is known as worksheet approach. In this approach, the chart is prepared in the spreadsheet format as a helping tool to organize the data.

a.

The worksheet approach to prepare the statement of cash flows is a useful aid as it helps to present the data in an organized way. With the help of the organized data, the cash flow statement can be prepared efficiently and easily. This option is correct, but other options are correct as well. Therefore, a is not the correct option.

b.

The worksheet is prepared in a spreadsheet format. The use of spreadsheet makes even the complex calculation easy. This option is correct, but other options are correct as well...

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