The three important financial statements prepared by accountants are:
A)Ledger,journal,and trial balance.
B)Cash budget,capital budget,and master budget.
C)Revenue summary,expense summary,and consolidation statement.
D)Balance sheet,income statement,and statement of cash flows.

Question

Quizplus · Accepted Answer

The three important financial statements prepared by accountants are the balance sheet, income statement, and statement of cash flows. The balance sheet shows the company's assets, liabilities, and equity at a specific point in time. The income statement shows the company's revenues, expenses, and net income over a period of time. Finally, the statement of cash flows shows the company's cash inflows and outflows during a period of time. Together, these three financial statements provide a comprehensive view of a company's financial health and performance.

The Three Important Financial Statements Prepared by Accountants Are