Question
The income statement shows how much the cash account either increased or decreased during the period. True False
Solution
4.6
(301 Votes)
Peyton
Professional ยท Tutor for 6 years
Answer
False.The income statement shows the revenues and expenses of a company over a period, resulting in a net income or loss. It does *not* directly show the change in the cash account. The **statement of cash flows** is the financial statement that shows how much the cash account changed during the period.