The four basic financial statements include the balance sheet, income statement, statement of owner's equity, and statement of cash flows.

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This statement is true. The balance sheet shows a company's assets, liabilities, and equity at a specific point in time. The income statement shows a company's revenues and expenses over a period of time. The statement of owner's equity shows changes in the owner's equity over a period of time. The statement of cash flows shows a company's cash inflows and outflows over a period of time. These four financial statements are essential for understanding a company's financial health and performance.

The Four Basic Financial Statements Include the Balance Sheet, Income