Final answer:
The statement of cash flows does not report A. revenues and expenses for the current year; it deals with cash transactions and noncash investing and financing activities.
Step-by-step explanation:
The statement of cash flows does not report revenues and expenses for the current year. Instead, the statement of cash flows provides information about the cash receipts, cash payments, and overall cash position of a company. It is primarily concerned with the inflow and outflow of cash related to operating, investing, and financing activities. The statement also reports on noncash investing and financing activities, which do not involve immediate cash transactions, but it does not detail the actual revenues and expenses that would be reported on an income statement.
Noncash activities may include things like issuing stock or bonds, which affect a company's financing, but do not result in immediate cash flow. Furthermore, revenue and expenses are concerned with the in-and-out movement of economic value rather than the actual cash transactions. This distinction is integral to understanding financial statements and the flow of capital within a business.