Question : Limitations of Cash-Flow Statement is

Option 1: It ignores the accrual concept of accounting

Option 2: No substitute for an Income Statement

Option 3: Historical in Nature

Option 4: All of the above

Question : Cash Flow Statement is based Upon :

Option 1:  Accrual basis of accounting

Option 2: Cash basis of accounting

Option 3: Accounting equation

Option 4: None of the above

Question : Which of the following statements is incorrect?

Option 1: Cash Flow Statement is not a substitute for Income Statement

Option 2: Cash Flow Statement shows only the inflows and outflows of Cash

Option 3: Income Statement shows both cash and non-cash items of revenue nature

Option 4: None of the above

Question : Cash Flow statement is based on - 

Option 1: Accrual basis of accounting

Option 2: Cash basis of accounting

Option 3: Mixed basis of accounting

Option 4: None of these

Question : Which of the following statements about the statement of cash flow is not correct?

Option 1: Cash flow statement is part of financial statement

Option 2: Cash flow statement is prepared on cash basis of accounts

Option 3: Cash flow statement is substitute of cash account

Option 4: Cash flow reports are generally prepared at the end of the accounting year