What are the three main financial statements?
A)Profit and Loss,Balance Sheet and Statement of Cash Flows
B)Budget to Actual,Balance Sheet and Statement of Cash Flows
C)Profit and Loss,Trial Balance and Statement of Cash Flows
D)Profit and Loss,Balance Sheet and Adjusted Trial Balance

Question

Quizplus · Accepted Answer

The three main financial statements are the Profit and Loss (also known as Income Statement), Balance Sheet, and Statement of Cash Flows. These statements provide valuable information about a company's financial performance, position, and cash flow. The Budget to Actual and Trial Balance are not considered as main financial statements. The Adjusted Trial Balance is a part of the accounting cycle and is not a financial statement on its own.

What Are the Three Main Financial Statements