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A summary of the cash receipts and cash payments for a specific period of time is a(

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Answer:

Cash flow statement

Step-by-step explanation:

The cash flow statement comprises of cash receipts and cash payments. The cash receipts are an inflow of cash in which the cash balance is increased and the cash payments are an outflow of cash in which the cash balance is decreased.

It consists of three activities i.e operating activities, investing activities, and financing activities.

In operating activities, there are two methods i.e direct and indirect method. In the direct method, the cash payments and cash receipts are only recorded. Whereas in the indirect method, the changes in working capital should be reported.

In investing activities, the purchase and sale of long term assets are reported. The buying is a cash outflow while the sale is a cash inflow

And, in financing activities, the stockholder equity transactions are recorded. The stock issue is a cash inflow while redemption and dividend are capital outflows.

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