Q 7.40: How does the balance sheet differ from the statement of cash flows in regards to reporting a company's financial information related to cash? A The balance sheet reports the cash amount over a period of time, and the statement of cash B The balance sheet reports the cash amount at a single point in time, and the statement of flows reports how cash was used at a single point in time cash flows reports how cash is used over a period of time. The balance sheet reports how the company plans to use available cash balances, and the statement of cash flows reports how cash is used over a period of time. D The balance sheet reports the cash amount at a single point in time, and the statement of cash flows reports how the company plans to use available cash balances