Which of the following statements is true regarding the relationship between net profit and cash flow on a set of financial statements prepared using generally accepted accounting principles (GAAP)? Net profit does not equal cash flow since accrual accounting recognizes sales when cash is received and expenses when they are paid and cash flow matches expenses with the revenues they created. Net profit and cash flow are the same thing when you are reviewing GAAP financial statements except for the add back of non-cash expenses. Net profit and cash flow are not equal since there are timing differences between cash receipts and disbursements and accrual accounting recognition of revenues and expenses to determine net profit. Net profit and cash flow are the same thing when you are reviewing GAAP prepared financial statements