True, The primary purpose of the statement of cash flows is to provide information about a company's cash receipts and cash payments during an accounting period.
What is information ?
- Information refers to an abstract concept that relates to anything that has the power to transmit information.
- At the most basic level, information relates to the interpretation of what is felt.
- Information is a stimulus that has meaning to the recipient in a specific context.
- When information is entered into a computer and stored there, it is commonly called data.
- Output data can be recognized as information again after undergoing processing such as formatting and printing.
- This is a data set organized for direct use by humans, as the information helps people in their decision-making processes.
- For example: Timetables, earnings lists, reports, tables with headers, printed documents, pay-slips, receipts, reports and more.
- Information is defined as knowledge obtained through research, communication, research, or education.
- Information is basically the result of analyzing and interpreting data.
- Data is the individual numbers, numbers, or graphs, but information is the perception of these units of knowledge.
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Question:
True or false: The primary purpose of the statement of cash flows is to provide information about a company's cash receipts and cash payments during an accounting period.
