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Which of the following statements is false ?

(a) A statement of cash fl ows summarizes information about the cash infl ows (receipts) and out flows (payments) for a specifi c period of time.

(b) A balance sheet reports the assets, liabilities, and

owner’s equity at a specifi c date.

(c) An income statement presents the revenues,

expenses, changes in owner’s equity, and resulting

net income or net loss for a specifi c period of time.

(d) An owner’s equity statement summarizes the

changes in owner’s equity for a specifi c period of

time

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Question ajoutée par abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م
Date de publication: 2016/02/17
Jafar  Ali Wahed Mohammed
par Jafar Ali Wahed Mohammed , Finance Manager , Al Jubiri Group

(c) An income statement presents the revenues,

expenses, changes in owner’s equity, and resulting

net income or net loss for a specifi c period of time.

 

It does not present changes in owners equity.It has only one element which has the effect on owner's equity. the same gets presented in the Statement of owner's equity. 

Ahmed Elzanaty
par Ahmed Elzanaty , Chief Accountant , Khalid for trading

 number (c) is false income statement not contain change of changes in owners   

Anwar Ahemad Khan
par Anwar Ahemad Khan , Chief accountant Cum Office Incharge , Culligan Kuwait for Water Treatment Equipment WLL

c) An income statement presents the revenues,

expenses, changes in owner’s equity, and resulting

net income or net loss for a specifi c period of time

above statement is false bcz income statement presents only revenue and expens of the company not  owner’s equity,

Frank Mwansa
par Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

C. An income statement presents the revenues, expenses, changes in owners and resulting net income or net loss for a specific period of time.

Santosh Kumar Arukh
par Santosh Kumar Arukh , AGM- FINANCE & TAXATION , JFE ENGIEERING CORPORATION

B) is flash as the Income statement is represent the Revenue Income & expenditure for a particular period. It is not disclosed the Owners equity part. The Profit or Loss which is carried forward to Balance sheet.

abdelaziz allam
par abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م

C.....................................

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