(4 points) Name the four major financial statements.

Question

Question

Answer 1

Answer #1

Following are the four major financial statements

Income statements shows the financial performance in terms of the items of revenue and expenditure and the net profit

balance sheet shows the financial position of an entity at the end of accounting period in terms of assets, liabilities and the equity information.

statement of cash flow shows the sources from where the cash has been generated and where it has been spent.

this statement shows the changes in owners equity.

Answer 2

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