Question: The statement of cash flows: is built on the basic accounting equation: Assets = Liabilities + Capital. compares costs and expenses against a firm's net

The statement of cash flows:

is built on the basic accounting equation: Assets = Liabilities + Capital.

compares costs and expenses against a firm's net profits.

shows changes in working capital by listing sources and uses of funds.

shows what assets the business owns and what claims creditors and owners have against those assets.

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