Which of the following is one of the four basic financial statements?
A) Balance sheet
B) Statement of changes in accounts receivable
C) Statement of owners' liquidity
D) Auditors' report

Question

Quizplus · Accepted Answer

The balance sheet is one of the four basic financial statements, which provides a snapshot of an entity's financial position at a specific point in time by listing the assets, liabilities, and equity. The statement of changes in accounts receivable and statement of owners' liquidity are not basic financial statements, and the auditors' report is not a financial statement, but a report issued by an independent auditor on the overall fairness and accuracy of an entity's financial statements.

Which of the Following Is One of the Four Basic