Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

13. Statement of Cash Flows

Introduction to the Statement of Cash Flows

Financial Accounting

13. Statement of Cash Flows

Introduction to the Statement of Cash Flows

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is a formal statement of a company's plans expressed in dollar amounts?

Balance Sheet

Budget

Income Statement

Statement of Cash Flows

Previous problemNext problem

Verified step by step guidance

Step 1: Understand the question by identifying the key terms. The question asks for a formal statement of a company's plans expressed in dollar amounts. This implies a forward-looking document that outlines financial goals or projections.

Step 2: Review the options provided: Balance Sheet, Budget, Income Statement, and Statement of Cash Flows. Each of these represents a financial document, but their purposes differ.

Step 3: Clarify the purpose of each option: - Balance Sheet: A snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and equity. - Budget: A forward-looking document that outlines a company's financial plans, goals, and expected revenues and expenses in dollar amounts. - Income Statement: A report showing a company's financial performance over a period, including revenues, expenses, and net income. - Statement of Cash Flows: A report detailing cash inflows and outflows over a period, categorized into operating, investing, and financing activities.

Step 4: Match the description in the question to the correct option. The question specifies 'plans expressed in dollar amounts,' which aligns with the purpose of a Budget, as it is a formal statement of financial plans and projections.

Step 5: Conclude that the correct answer is 'Budget,' as it is the only option that represents a company's financial plans expressed in dollar amounts.