Question

What is a record of income and expenditures for a particular period?

A. Personal balance sheet

B. Cash flow statement

C. Net worth

D. None of the above

Answer 1

The Answer is B. Cash Flow Statement just confirmed it in the lesson.

Answer 2

Answer: B. Cash flow statement

The "inflow and outflow of cash during a given time period" is called the cash flow. The record of this inflow and outflow for a particular period is called the cash flow statement.

Income (inflow) is debited to a person or company’s account while expenditures (outflow) are credited, resulting to cash on hand.