The three kinds of basic financial statements that are prepared in financial accounting are:
A) statement of debts, letter of credit, and articles of incorporation.
B) comfort letter, master budget, and credit statement.
C) balance sheet, income statement, and statement of cash flows.
D) pro forma report, request for proposal, and articles of incorporation.

Question

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The three basic financial statements in financial accounting are the balance sheet, income statement, and statement of cash flows. These statements provide a comprehensive overview of a company's financial position, performance, and cash flow activities.

The Three Kinds of Basic Financial Statements That Are Prepared