Cash Flow Statement is based upon A. Cash basis of accounting B. Accrual basis of accounting C. Credit basis of accounting D. None of the above

Cash Flow Statement is based upon
A. Cash basis of accounting
B. Accrual basis of accounting  
C. Credit basis of accounting  
D. None of the above
by

1 Answer

Answer :

A. Cash basis of accounting
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Related questions

Cash flow statement is based on---------- a) Cash basis of accounting b) Accounting equation c) Accrual basis of accounting d) None of these

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Last Answer : a) Cash basis of accounting

Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above

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Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

As per Accounting Standard-3, Cash Flow is classified into A. Operating activities and investing activities B. Investing activities and financing activities C. Operating activities and financing activities D. Operating activities, financing activities and investing activities

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Income and expenses for the year 2012 are– Fee Received in Cash – Rs.24,000 Accrued Fee – Rs.6,000 Rent for Chamber Paid – Rs.6,000 Outstanding Rent – Rs.2,000 Salary Paid to Staff – Rs.6,000 Miscellaneous Expenses Paid – Rs.200 Salary paid in advance to staff included in the above : Rs. 1,000. What is the income under accrual basis ? (A) Rs. 11,800 (B) Rs. 13,200 (C) Rs. 16,800 (D) Rs. 30,000

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