Which of the following is not a required component of financial statements prepared in accordance with generally accepted accounting principles?
A) President's letter to shareholders.
B) Statement of financial position.
C) Income statement.
D) Notes to financial statements.

Question

Quizplus · Accepted Answer

A President's letter to shareholders is not a required component of financial statements prepared in accordance with generally accepted accounting principles. However, it is often included in annual reports as a way for management to communicate with shareholders and provide additional information about the company's performance and future plans. The other options (B, C, and D) are all required components of financial statements.

Which of the Following Is Not a Required Component of Financial