Financial statements are prepared after an entity's transactions are analyzed and recorded. Which of the following reports is one of the required financial statements?
A)Statement of cash flows
B)Statement of return on assets
C)Statement of withdrawals
D)Expense statement

Question

Quizplus · Accepted Answer

The statement of cash flows is one of the required financial statements, along with the income statement and balance sheet. It reports on a company's operating, investing, and financing activities during a given period and provides insights into a company's cash flows and liquidity. The other choices, statement of return on assets, statement of withdrawals, and expense statement, are not required financial statements.

Financial Statements Are Prepared After an Entity's Transactions Are Analyzed