When we say financial statements of a firm, we are referring to:
A)the accounts receivables and balance sheets.
B)the income statements and balanced sheets.
C)the accounts payable and balance sheets.
D)the accounts receivables and accounts payables.
E)the nominal ledger.

Question

Quizplus · Accepted Answer

Financial statements typically include the income statement (which shows the company's revenues and expenses during a particular period) and the balance sheet (which shows the company's assets, liabilities, and shareholders' equity at a specific point in time).

When We Say Financial Statements of a Firm, We Are