true false it shows a businesss assets, liabilities, and equity. it summarizes the cash flowing in and out…

true false it shows a businesss assets, liabilities, and equity. it summarizes the cash flowing in and out of a business. it is divided into three sections: operations, investments, and financing. it is another name for an income statement for companies that use accrual accounting.

true false it shows a businesss assets, liabilities, and equity. it summarizes the cash flowing in and out of a business. it is divided into three sections: operations, investments, and financing. it is another name for an income statement for companies that use accrual accounting.

Answer

Answer:

  1. True
  2. True
  3. True
  4. False

Explanation:

Step1: Assets - Liabilities - Equity

The balance - sheet shows a business's assets, liabilities, and equity.

Step2: Cash flow summary

The cash - flow statement summarizes the cash flowing in and out of a business.

Step3: Cash - flow sections

The cash - flow statement is divided into operations, investments, and financing sections.

Step4: Income statement vs other

The income statement is different from other statements and is not another name for what is described, especially in accrual accounting.