Every financial statement should have "who, what, and when" in its heading. These are:

Question

Quizplus · Accepted Answer

The heading of every financial statement should include the name of the company, the type of financial statement, and the time period or date from which the data were taken. This provides important context for the information presented in the statement. The name of the person preparing the statement and the date of reporting may also be included, but they are not essential components of the heading. Option A is incorrect because the type of financial statement should already be indicated in the heading, and financial statements are not always reported to the SEC. Option B is incomplete because it does not include the type of financial statement or the time period/date. Option D is incorrect because the purpose of the statement may be inferred from the type of financial statement, and the date of reporting is not an essential component of the heading.

Every Financial Statement Should Have "Who, What, and When" in Its