Chip asked Dale, Do we really have to issue a Statement of Cash Flows with the other financial statements to external users? If the statement of cash flows is required what is the name of the organization that made this rule? What did Dale say?

Group of answer choices

Yes, the statement of cash flows is required and it was required by FASB.

No, the statement of cash flows is not required by any organization, it is just a helpful document.

Yes, the statement of cash flows is required and it was required by GAAP.

None of the above is correct.