________ reflect past performance and are usually prepared on a quarterly and annual basis.
A) Chronological financial statements
B) Ad-hoc financial statements
C) Historical financial statements
D) Concurrent financial statements
E) Pro forma financial statements

Question

Quizplus · Accepted Answer

Historical financial statements reflect past performance and are prepared on a regular basis, usually quarterly and annually. Chronological financial statements, ad-hoc financial statements, concurrent financial statements, and pro forma financial statements do not necessarily reflect past performance and may not be prepared on a regular basis.

________ Reflect Past Performance and Are Usually Prepared on a Quarterly