2. Sample Papers
  3. 12th Class
  4. Accountancy

12th Class Accountancy Sample Paper Accountancy - Sample Paper-4

  • question_answer
    State why cash flow statement is not a substitute for income statement?

    Answer:

    Cash flow statement is not a substitute for income statement because cash flow statement shows only the inflows and outflows of cash whereas income statement shows both cash and non-cash items of revenue nature and also shows the net income during the year.


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