The two most useful financial statements are ____ and ____.
A)federal tax returns; income and expense statements
B)cash-flow statements; balance sheets
C)balance sheets; wills
D)wills; federal tax returns

Question

Quizplus · Accepted Answer

The two most useful financial statements are cash-flow statements and balance sheets. Cash-flow statements show the inflows and outflows of cash in a business or personal finance situation, while balance sheets show the assets, liabilities, and equity of a business or individual. Both provide important information for making financial decisions and understanding the overall financial health of an entity. Federal tax returns and wills are not financial statements and do not provide the same level of financial information as cash-flow statements and balance sheets.

The Two Most Useful Financial Statements Are ____ and ____

The Two Most Useful Financial Statements Are and