Which of the following statements is false? A cash flow statement summarizes all of the income and outgo (spending) over a certain time period. A budget is a written plan for saving and spending. A budget is meant to summarize the saving and spending that has taken place over the past year. The cash flow statement is reflective of what has already taken place.
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Which of the following statements is false? A cash flow statement summarizes all of the income and o...
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