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Which of the following is NOT included in the four major types of financial statements? The...

Which of the following is NOT included in the four major types of financial statements? The balance sheet. The statement of cash flow. The revenue rate variance report. The statement of changes in fund balances and net assets.

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ANS- The revenue rate variance report is not included in financial statements. Financial Statements shows the current financial position of any business. Therefore in the above question the balance sheet is a major financial statement as it shows the assets liabilities , stockholder's equity on a particular date, The statement of cash flow shows cash flows from financing, investing and operating activities and hence it is also a major type of financial statements, The statement of changes in fund balances and net assets shows the changes in assets over a period of time, so it is also included in financial statements but the rate variance report is used by hotels to check the guest arrival and check out. The report shows details of guests and therefore it is not included in financial statements.

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