A complete set of financial statements for Citywide Company,at December 31,2014,would include each of the following,except:
A)Balance sheet as of December 31,2014.
B)Income statement for the year ended December 31,2014.
C)Statement of projected cash flows for 2015.
D)Notes containing additional information that is useful in interpreting the financial statements.

Question

Quizplus · Accepted Answer

A complete set of financial statements for a company would include a balance sheet as of a specific date (in this case, December 31, 2014), an income statement for a period of time (in this case, the year ended December 31, 2014), and notes containing additional information that is useful in interpreting the financial statements. While a statement of projected cash flows for the following year (in this case, 2015) may be useful, it is not typically included in a complete set of financial statements for the current year.

A Complete Set of Financial Statements for Citywide Company,at December