In addition to the three primary financial statements, which of the following is also required under GAAP?

Question

Quizplus · Accepted Answer

The three primary financial statements required under GAAP are the balance sheet, income statement, and statement of cash flows. However, the statement of cash flows is also required under GAAP as an additional financial statement. The statement of changes in working capital and statement of cash equivalents are not primary financial statements and are not required under GAAP. The statement of financial position is another term for the balance sheet, one of the three primary financial statements.

In Addition to the Three Primary Financial Statements, Which of the Following