____________________________________report economic information about the business.
A)Journal transactions.
B)Financial statements.
C)Transaction registers.
D)Account distributions.
E)All.

Question

Quizplus · Accepted Answer

Financial statements provide a summary of the business's financial performance over a specific period of time and include information such as income statements, balance sheets, and cash flow statements. These statements are essential for reporting economic information about the business. While journal transactions, transaction registers, and account distributions provide detailed information about individual transactions, they do not provide a comprehensive overview of the business's financial performance. Therefore, option B is the best choice for reporting economic information about the business.

____________________________________Report Economic Information About the Business