Question

On a corporation’s Balance Sheet, what is the name for obligations that come due (must be paid) within one year?

Please list the 3 main sections found on an organization’s Statement of Cash Flows.

What information can be found on an organization’s Income Statement.

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Answer 1

The 3 main sections found in an organization's cash flow statement are operating activities, investing activities and financing activities.

Information about the revenues and the expeditures are shown on the Income statement. It also shows the net profit or loss arising for a specific accounting period. There are two parts to the Income statement i.e operating & non-operating sections. Revenues & expenses arising from day to day/regular operations of the business are highlighted under operating section and those not concerning the regular operations are highlighted under non-operating sections.

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