Question

Statement or Report Description Gives details about the firm's sales, costs, and profits for the past accounting period. Reconciles (1) the amount of stockholders' equity recorded at the beginning of the reporting period, (2) changes during that period, and (3) the amount of stockholders' equity at the end of the reporting period. Is issued once a year by a corporation and contains basic financial statements and an analysis of past performance and future prospects. Summarizes a company's assets, liabilities, and stockholders' equity at a specific point in time. Provides details about the flowpof funds from operating, investing, and financing activities. Accountants focus on creating financial statements, whereas finance professionals use these statements to evaluate a firm and answer questions about its performance. Indicate which financial statement you would refer to when answering the questions in the following table: Balance Sheet Statement of Cash Flows Does the firm generate enough internal funds to support anticipated investment, or does additional outside capital need to be raised? Can the firm meet all its short-term obligations using its current assets? The annual report is very important for investors, because the information contained in the annual report: helps investors forecast expected earnings and dividends. shows the prices at which each investor purchased the company's stocks and bonds

Answer 1

As per HOMEWORKLIB POLICY we need to answer only first four sub-parts of a question. Please post a separate question for remaining parts

For Report or Statement question the correct answers are:

1) Statement

2) Statement

3) Report

4) Statement

5) Statement

Workings

1) Income Statement shows the revenues, costs and net profit from business operations of a business.

2) Statement of Stockholders' Equity shows how the equity balance has moved over the accounting period.

3) Annual Report is issued once a year and contains information on past performance and future prospects

4) Statement of financial position also called as Balance Sheet contains information on assets, liabilities and equity of a company on a particular date.

5) Statement of cash flows provides details about cash receipts and usage from opeating, investing and financing activities.

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