The accountant at Forgum Corporation is asked to prepare the financial statements for the month of July.Which financial statement will he NOT prepare?
A)Balance sheet
B)Income statement
C)Statement of earnings and taxation
D)Statement of cash flows
E)Statement of stockholders' equity

Question

Quizplus · Accepted Answer

The statement of earnings and taxation is not a standard financial statement. Instead, it is a specialized statement that may be prepared for tax reporting purposes. The other options - balance sheet, income statement, statement of cash flows, and statement of stockholders' equity - are all standard financial statements that the accountant would typically prepare.

The Accountant at Forgum Corporation Is Asked to Prepare the Financial