________ 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 statement
E) Pro forma financial statements

Question

Quizplus · Accepted Answer

Historical financial statements reflect past performance and are prepared on a quarterly or annual basis. Chronological financial statements and ad-hoc financial statements are not commonly used financial statement types. Concurrent financial statements are prepared for a specific point in time, such as the end of a month. Pro forma financial statements are forward-looking and estimate future performance.

________ Reflect Past Performance and Are Usually Prepared on a Quarterly