The four general purpose financial statements are:
A)Generated at the end of each month
B)Generated at the end of each fiscal period
C)Distributed only to external users
D)Distributed only to internal users

Question

Quizplus · Accepted Answer

The four general purpose financial statements (income statement, statement of retained earnings, balance sheet, and statement of cash flows) are generated at the end of each fiscal period, typically annually or quarterly. They are meant to be distributed to both internal and external users, as they provide important information about a company's financial health and performance.

The Four General Purpose Financial Statements Are