Financial statements are a result of the ongoing work of bookkeepers and managerial accountants and their recording of daily transactions.

Question

Quizplus · Accepted Answer

Financial statements, such as the balance sheet, income statement, and cash flow statement, are a culmination of the financial data recorded by bookkeepers and managerial accountants over a period, usually at the end of a reporting period or fiscal year.

Financial Statements Are a Result of the Ongoing Work of Bookkeepers