What document summarizes cash inflows and outflows during a specific time period?

The cash flow statement is designed to provide a detailed summary of cash inflows and outflows over a specific period of time. It captures how cash moves in and out of a business, which is essential for understanding the company's liquidity and overall financial health. This document breaks down cash flows into three main categories: operating activities, investing activities, and financing activities, allowing stakeholders to see where money is coming from and how it is being spent.

Each of the other documents mentioned serves a different purpose. The balance sheet provides a snapshot of a company's assets, liabilities, and equity at a specific point in time, rather than over a period. The income statement summarizes revenues and expenses to show profitability, but it does not focus specifically on cash flows. While the term "financial statement" can refer to various documents that include balance sheets, income statements, and cash flow statements, it is too broad to accurately describe the particular summary of cash movement during a period. Thus, the cash flow statement uniquely fulfills the role of tracking cash transactions over time.