Accounts receivable will help explain a difference between net income on an income statement and cash from operating activities on the statement of cash flows.
<h3>What is an income statement?</h3>
An income statement refers to a financial document which is typically used to record the amount of money (income or revenues) that are entering into a business.
Generally, accounts receivable is a balance sheet line item which can be used by an entrepreneur or business firm to explain a difference between net income on an income statement and cash that were collected from customers (operating activities) on the statement of cash flows.
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Answer:
ANSWER: Economic Shrinkage
Explanation:
The statement that internet service providers are capable of providing products and services is false.
- Internet service providers cannot be an example of organizations that can provide both goods and services.
- This is because, internet service providing organizations fall under the category of organizations that are especially known for only being able to provide services.
- Some other organizations that produce services alone, also include commercial banks and consulting firms.
- Therefore, the statement cannot be true.
Thus, from the above reasons it is clear that internet service providers can only provide services.
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