ACCT-008/ Which one of the following statements regarding financial reports is correct?\ The balance sheet is used to show that a company's assets equal liabilities plus shareholders

^(TM)

equity.\ The statement of cash flows shows cash inflows and outflows from operating activities only.\ The statement of stockholders' equity reports only ending balances of common stock and retained earnings.\ The income statement classifies all expenses according to operating, investing, and financing activities.\ No new data to save. Last checked at 9:32pm

ACCT-008/ Which one of the following statements regarding financial reports is correct? The balance sheet is used to show that a company's assets equal liabilities plus shareholders TM equity. The statement of cash flows shows cash inflows and outflows from operating activities only. The statement of stockholders' equity reports only ending balances of common stock and retained earnings. The income statement classifies all expenses according to operating, investing, and financing activities