Which financial document summarizes cash inflows and outflows over a specific period?

The cash flow statement is a financial document that specifically summarizes cash inflows and outflows over a designated period of time, typically on a quarterly or annual basis. It provides a detailed account of cash generated from operating activities, cash spent on investment activities, and cash received or paid in financing activities. By categorizing these cash flows, the statement helps stakeholders understand how well a company manages its cash position, which is essential for maintaining liquidity and supporting operations.

In contrast, the balance sheet offers a snapshot of a company's financial position at a specific moment in time, detailing its assets, liabilities, and equity. The income statement reveals the company’s profitability over a period but does not focus on cash transactions specifically. The equity statement outlines changes in equity and shares issued over a period but does not detail cash movement. Therefore, while each of these documents serves its own purpose in financial analysis, the cash flow statement is distinctly focused on cash-related activities, making it the correct choice for summarizing cash inflows and outflows.