Answered: The following are all output reports of…

The following are all output reports of the financial reporting system, EXCEPT a. variance analysis report. b. statement of cash flows. c. tax return. d. comparative balance sheet.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 2Q

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Question

The following are all output reports of the financial reporting system, EXCEPT
a. variance analysis report.
b. statement of cash flows.
c. tax return.
d. comparative balance sheet.

Definition Definition Net amount of cash that an entity receives and expends over the course of a given period. For a business to continue operating, positive cash flows are required, and they are also necessary to produce value for investors. Investors in particular prefer to see growing cash flows even after capital expenditures have been paid for (which is known as free cash flow).

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