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State why Cash Flow Statement is not a substitute for Income Statement?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Because Cash Flow Statement shows only the inflows and outflows of Cash whereas Income Statement shows both cash and non-cash items of revenue nature and also shows the net income during the year.


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Previous PostGive two examples of finance companies.
Next PostWhile preparing a Cash Flow Statement, ‘Payment of bonus to the employees’ by an insurance company is which type of activity? (C.B.S.E. 2015)

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